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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 Vows Severe Response Against Iran Amid Escalating Tensions

 

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.


U.S. President Donald Trump declared on Saturday that Iran would be “hit very hard,” signaling a potential expansion of military targets as regional conflict intensifies. In a post on Truth Social, Trump said he was considering widening the areas and groups “under serious consideration for complete destruction and certain death,” citing what he called Iran’s continued “bad behavior.” 

Trump also claimed that Iran had apologized to its Middle Eastern neighbors for recent strikes—an action he framed as a surrender—though he provided no additional details. The warning comes as U.S. and Israeli operations against Iran enter a heightened phase, with American bombers arriving in the U.K. in preparation for possible missions “within the next few days.”

The situation remains fluid as both sides exchange threats, and global leaders watch closely for signs of further escalation.

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