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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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Trump Claims 48 Iranian Leaders Killed in Joint US‑Israel Strikes

US President Donald Trump told Fox News on Sunday that 48 leaders have been killed in U.S. and Israeli strikes on Iran.

U.S. President Donald Trump stated in multiple media interviews that 48 senior Iranian leaders were killed during ongoing joint U.S.–Israeli military strikes on Iran. He described the operation as moving “rapidly” and emphasized what he called unprecedented success, noting that the leaders were eliminated “in one shot.” 

The strikes are part of a broader campaign that U.S. officials have referred to as a major coordinated effort targeting Iran’s political and military leadership. Reports indicate that intelligence agencies had been monitoring high‑ranking Iranian officials for months, waiting for an opportunity to act. According to Trump, the operation is progressing ahead of schedule, with additional claims that Iran’s new leadership has already sought discussions with Washington. 

These developments come amid heightened regional tensions and follow reports of significant damage to Iranian naval assets, including the destruction of several ships. The situation continues to evolve as both U.S. and Israeli forces maintain pressure on Iranian command structures. 

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