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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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Weekly Market Snapshot: TSX Rises as Oil Rebounds and U.S. Markets Cool

 

TSX Edges Higher on Energy Strength

The TSX posted a modest gain this week, supported by rising energy and financial stocks as oil prices rebounded from recent lows. Investor sentiment improved as commodity demand projections stabilized and geopolitical tensions eased.

S&P 500 Cools After Strong Run

The S&P 500 paused its recent rally, with tech names seeing mild pullbacks as traders reassessed earnings expectations and upcoming Federal Reserve commentary. Defensive sectors saw renewed interest as investors rotated toward value.

Oil Rebounds, Supporting Canadian Markets

Oil prices climbed on supply concerns and improving global demand forecasts. The rebound helped lift Canadian energy producers and contributed to the TSX’s relative outperformance.

Canadian Dollar Holds Steady

The CAD traded in a narrow range, balancing stronger commodity prices against softer domestic economic data. Markets continue to watch for Bank of Canada signals on future rate direction.

Winners & Losers

Winners:

  • Energy producers
  • Major Canadian banks
  • Industrials tied to global trade

Losers:

  • Tech stocks
  • Consumer discretionary names
  • Rate‑sensitive growth sectors

Key Events to Watch Next Week

  • Bank of Canada speeches and updated economic commentary
  • U.S. GDP and inflation data
  • Earnings from major Canadian financial and resource companies
  • OPEC+ supply updates and global oil demand revisions


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