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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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U.S. Halts Tariffs After Supreme Court Declares Them Illegal


The United States will officially stop collecting a series of tariffs that the Supreme Court recently ruled unlawful under the International Emergency Economic Powers Act (IEEPA). Beginning at 12:01 a.m. EST on Tuesday, February 24, U.S. Customs and Border Protection (CBP) will deactivate all tariff codes tied to former President Donald Trump’s IEEPA-based orders. 

The decision follows a 6–3 Supreme Court ruling that found the administration lacked authority to impose broad, emergency‑based tariffs under IEEPA, noting that the law contains no reference to duties. 

CBP’s move raises significant questions about potential refunds for importers who paid the now‑invalidated tariffs. While these IEEPA‑related duties will end immediately, other Trump‑era tariffs imposed under different legal authorities remain in place.

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