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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 Tells Allies to ‘Take’ Oil from Strait of Hormuz Amid Rising Tensions

 

Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance.


U.S. President Donald Trump has escalated rhetoric over the ongoing crisis in the Strait of Hormuz, urging countries struggling with fuel shortages to “just take” oil from the disrupted waterway. His comments, delivered via Truth Social, targeted nations such as the United Kingdom and France, which he criticized for not participating in U.S.-Israeli military actions against Iran. 

Trump argued that countries dependent on oil shipments through the strait should either purchase American oil or assert themselves militarily to secure their own supply. The month‑long conflict has sharply driven up global energy prices and nearly halted tanker traffic as Iran effectively closed the strategic passage. 

Reiterating that the U.S. would no longer “fight for” nations that did not support its operations, Trump insisted the “hard part is done” and encouraged allies to take responsibility for their energy security. His remarks have added to international unease as global markets continue to react to the instability in one of the world’s most critical oil corridors. 


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