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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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Migrant Boat Sinks Off Samos, Leaving One Dead and Three Missing

A Greek national flag and a EU flag flutter inside a newly inaugurated closed-type migrant camp on the island of Samos.

A woman has died and three people are missing after a migrant boat sank early Monday off the Greek island of Samos.

According to officials, a group of 26 migrants managed to reach the island’s Petalides area and alerted authorities that others were still at sea. A large search‑and‑rescue operation was launched, involving coast guard vessels, a helicopter, a private boat, and land teams.

Rescuers recovered the body of a woman during the operation, while efforts continue to locate the remaining missing individuals. Authorities have not yet released details about the migrants’ nationalities or the circumstances that led to the sinking.

Samos, located near the Turkish coast, remains a frequent landing point for migrants attempting the dangerous crossing. Despite increased patrols and stricter border controls, fatal incidents continue to occur in the region.

Search efforts are expected to continue as conditions allow.


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