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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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Reflecting on Progress: National Day for Truth and Reconciliation 2024

 


As Canada marks the fourth National Day for Truth and Reconciliation, Indigenous advocates and experts are urging Canadians to reflect on the journey towards reconciliation. Despite the progress made since the day was first recognized as a statutory holiday in 2021, many believe that the nation has not advanced as far as hoped.

On September 30, Canadians from coast to coast gather to honor the survivors of residential schools and remember those who never made it home. Events include pow-wows, ceremonies, and special services, with federal buildings like the Peace Tower illuminated in orange to symbolize the commitment to reconciliation.

However, Indigenous leaders emphasize that true reconciliation requires more than symbolic gestures. They call for concrete actions to address ongoing issues such as systemic racism, inadequate healthcare, and insufficient support for Indigenous communities. The Governor General of Canada, Mary Simon, highlighted the importance of collective responsibility in her message, urging Canadians to educate themselves and actively participate in the reconciliation process.

While the day serves as a reminder of the resilience of survivors and the importance of their stories, it also underscores the significant work that remains. Advocates stress that reconciliation is a continuous journey, requiring sustained effort and genuine commitment from all Canadians.

By reflecting on the past and acknowledging the present challenges, Canadians can contribute to a future where reconciliation is not just an aspiration but a reality.


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