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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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Escalating Attacks Heighten Global Energy Concerns

 

Iran targets commercial ships, Dubai airport and oil facilities as concerns grow over global energy.


Iran has intensified regional tensions by launching coordinated attacks on commercial ships in the Persian Gulf and striking near Dubai International Airport, raising fresh alarms over global energy stability. 

Key Developments

  • Commercial Ships Targeted: Iranian forces attacked multiple vessels across the Persian Gulf, escalating pressure on vital maritime trade routes.
  • Dubai Airport Hit: Two drones struck near Dubai International Airport—one of the world’s busiest—wounding four people. Despite the attack, flights continued operating. 
  • Oil Facilities Threatened: The strikes form part of a broader campaign aimed at squeezing the energy-rich region as global oil markets react with volatility. 
  • Global Impact: Brent crude prices surged roughly 20% from the start of the conflict, rattling financial markets and raising concerns about prolonged disruptions to energy exports. 

Regional and Global Implications

These attacks come amid ongoing U.S. and Israeli airstrikes on Iran, creating a volatile environment with potential long-term consequences for global energy supply chains. As tensions rise, governments and markets worldwide are bracing for further instability in one of the world’s most critical oil-producing regions.

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