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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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Israel Claims Major Strike on Hamas Militants in Gaza Tunnels

 

Israeli soldiers walk through what Israel's military says is an iron-girded tunnel designed by Hamas to disgorge carloads of Palestinian fighters for a surprise storming of the border.


Israel announced that its forces killed approximately 40 Hamas militants who had been trapped in tunnels beneath Rafah in southern Gaza. According to the Israeli military, the operation targeted fighters who had been hiding underground for months, with some attempting to emerge and engage in clashes before being killed.

Officials stated that around 200 militants were initially trapped in the tunnel network, though some surrendered or were eliminated in earlier confrontations. Among those killed were three local Hamas commanders and the son of a senior Hamas leader, Ghazi Hamad.

The tunnels in Rafah have long been a focal point of Israel’s military campaign, as they serve as critical infrastructure for Hamas operations. Israeli forces have concentrated efforts on dismantling these underground routes, aiming to weaken Hamas’ ability to regroup and launch attacks.

Attempts by international mediators, including U.S. officials, to negotiate a deal for the militants to lay down arms in exchange for safe passage have so far failed. Washington described the situation as a test case for broader efforts to disarm Hamas across Gaza.

The Israeli military emphasized that the operation was part of its ongoing campaign to eliminate Hamas’ underground strongholds. Meanwhile, Hamas sources confirmed some of the casualties but have not issued a full statement on the incident.

This development underscores the fragile state of ceasefire negotiations and highlights the continuing volatility in southern Gaza, where tunnel warfare remains a deadly and decisive element of the conflict.

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