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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...
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Southern Ontario Braces for Dangerous Lake-Effect Snow Squalls

 

                                           Southern Ontario snow totals - Nov 25  

Southern Ontario is preparing for a major lake-effect snow squall event that could deliver 20–30+ cm of snow across regions east and southeast of Lake Huron and Georgian Bay. The system is expected to begin Wednesday night and persist through Friday, bringing treacherous conditions to communities in the province’s snowbelt.

Forecasters warn that shifting snow squall bands will spread accumulation across a wider area rather than concentrating on a single community. This means more residents will face hazardous conditions, including whiteouts, blowing snow, and drifting snow. Wind gusts of 50–60+ km/h are forecast through Thursday, which could reduce visibility to near zero and lead to road closures in affected areas.

The snow squalls are being fueled by a strong winter storm tracking through northern Ontario, which is dragging down Arctic air and intensifying winds across the Great Lakes Basin. Southern Ontario will first see rain and strong winds Wednesday afternoon, with gusts reaching 60–80+ km/h in cities such as Windsor, London, Toronto, and Kingston, before the system transitions into heavy snow.

Authorities are urging drivers to exercise caution, as conditions may change suddenly and travel could become dangerous. Those who have not yet installed winter tires are advised to do so immediately, as the cold, active weather pattern is expected to continue into early December.

This event marks one of the first significant winter weather systems of the season, and with the potential for whiteout conditions and multi-day impacts, residents should prepare for disruptions to travel and daily routines.

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