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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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Arab States May Be Asked to Share Costs of Iran Conflict, White House Indicates

 

Two F/A-18 Super Hornets launch from the flight deck of the US Navy Nimitz-class aircraft carrier USS Abraham Lincoln in support of the Operation Epic Fury attack on Iran from an undisclosed location.

U.S. President Donald Trump is considering urging Arab nations to contribute financially to the ongoing war with Iran, according to White House Press Secretary Karoline Leavitt. During a briefing in Washington, Leavitt noted that while she would not speak ahead of the President, the idea is one he is “quite interested” in pursuing. 

Leavitt emphasized that discussions with Tehran are continuing behind the scenes, despite sharp public rhetoric from Iranian officials. She added that Iran’s private communications differ from its public statements, suggesting some progress in negotiations. 

The President has also issued renewed warnings toward Iran, threatening severe consequences for its energy infrastructure if it does not reopen the Strait of Hormuz. Meanwhile, he has suggested that “regime change” in Iran is effectively underway, citing heavy losses among Iranian leadership factions. 

As the conflict continues, the administration signals that more details on potential Arab financial involvement may be forthcoming.

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