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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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Spain Denies U.S. Claims of Military Cooperation Amid Trade Pressure

 

It was White House press secretary Karoline Leavitt that claimed that Spain had changed its stance on the Iran war.


Spain has firmly rejected assertions from Washington that it agreed to support U.S. military operations following threats from President Donald Trump to sever trade ties. The dispute emerged after White House Press Secretary Karoline Leavitt stated that Madrid had shifted its stance on the Iran conflict, suggesting Spain would now cooperate with U.S. forces. Spanish officials quickly refuted the claim, maintaining that no such agreement had been made and reiterating their opposition to involvement in the U.S.-Israeli strikes on Iran. 

The disagreement highlights growing diplomatic tension between the two allies. Trump’s threat to cut off trade came in response to Spain’s refusal to allow its military bases to be used in support of U.S. operations. Despite the White House’s insistence that Spain had “heard the president’s message,” Madrid has remained steadfast, publicly denying any change in policy. 

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