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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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Winter Blast: Freezing Rain and Blowing Snow Sweep Across Eastern Canada

Shoppers walk through a snow storm as they exit Eaton Centre on Boxing Day in Toronto, on Friday, Dec. 26, 2025.

A powerful winter storm is sweeping across Eastern Canada, delivering a hazardous mix of freezing rain, blowing snow, and strong winds from Ontario to Atlantic Canada. Weather alerts remain in effect as the system disrupts travel and threatens power outages across multiple provinces.

Ontario is experiencing some of the most intense conditions, with freezing rain coating surfaces in the Ottawa region and heavy snowfall blanketing communities farther north. Areas around Timmins are facing significant accumulations, while strong winds are creating whiteout conditions in open regions.

Quebec is also bracing for widespread impacts, with heavy snow expected north of Montreal and gusty winds reducing visibility along major highways. In Atlantic Canada, freezing rain warnings stretch across New Brunswick, Nova Scotia, and Prince Edward Island as the storm pushes eastward.

The system marks another round of turbulent winter weather for the region, prompting officials to urge residents to avoid unnecessary travel and prepare for potential disruptions as ice and snow continue to build.


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