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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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Fatal Fire Claims Life at North York Retirement Residence

                The fire started around 10:20 p.m. on Sunday at a residence on Finch Avenue West.

A man has died following a fire that broke out inside a North York retirement home late Sunday evening. Emergency crews were called to the residence after reports of smoke and flames coming from one of the units. Firefighters were able to contain the blaze quickly, but one male resident was found unresponsive inside.

Paramedics attempted life‑saving measures, but the man was pronounced dead at the scene. Other residents were safely evacuated, and no additional injuries were reported.

Investigators are now working to determine the cause of the fire. Officials say there is no immediate threat to the public, and the building has since been deemed safe for residents to return to unaffected areas.

The victim’s identity has not yet been released as authorities notify next of kin.


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