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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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U.S. Push for Critical Minerals Intensifies on Eve of Iran Strikes

 

                                    The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020.


The U.S. Department of Defense moved to secure fresh supplies of 13 critical minerals just one day before the United States and Israel launched strikes on Iran, underscoring Washington’s growing urgency to strengthen its industrial and military supply chains. 

The Pentagon’s request, sent to members of the Defense Industrial Base Consortium, called for proposals to mine, process, or recycle key minerals such as nickel, graphite, and rare earth elements—materials essential for producing semiconductors, advanced weapons systems, and other defense technologies. Companies were asked to submit project plans by March 20.

Officials did not indicate whether the timing was intentional, but the move highlights ongoing concerns about U.S. dependence on foreign sources for minerals widely used in modern warfare. The request also reflects a broader strategic effort to bolster domestic production capacity amid rising geopolitical tensions. 


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