Canada Fact Check

Executive Summary: September 16, 2026 Fed Rate Hike On September 16, 2026, the Federal Reserve raised the federal funds target range by 25 basis points, from 3.50%–3.75% to 3.75%–4.00%. It was the Fed's first rate increase since 2023 and came as policymakers continued to express concern about elevated inflation. Federal Funds Target Range: 3.75%–4.00% after a 0.25 percentage-point increase. August CPI: Consumer prices rose 0.4% month over month and 3.4% from a year earlier. Core CPI: Prices excluding food and energy rose 2.4% year over year. 2026 Outlook: Most Fed policymakers currently see another rate increase before year-end. Most Americans do not spend Wednesday afternoons watching Federal Reserve press conferences. But they do notice when a credit card balance becomes harder to pay down, when a car payment stretches the monthly budget, or when the mortgage calculator produ...

Quick Answer: If your child decides not to pursue post-secondary education, you generally do not lose the RESP contributions you made. Your contributions can generally be returned to you without income tax. Unused government incentives such as the CESG and CLB are generally repaid to the government, while accumulated income may be taxable as an Accumulated Income Payment (AIP) . An AIP is normally subject to regular income tax plus an additional 20% tax—or 12% for Quebec residents—unless an eligible amount is transferred to an RRSP or another qualifying registered plan. You opened a Registered Education Savings Plan (RESP) years ago with a simple goal: helping your child pay for post-secondary education. But plans change. Your child might choose an immediate job opportunity, take a gap year, start a business, pursue a different career path, or receive a scholarship that significantly reduces the amount of money needed for school. When that happens, many pa...

💡 Quick Answer If your rental application was denied — or you were asked to pay higher rent, a larger security deposit, or use a co-signer because of a tenant screening report — federal law gives you important rights.    You can request a free copy of the report from the screening company within 60 days of the adverse action, review it for inaccurate or outdated information, dispute errors, and ask the landlord or property manager to reconsider the application. Few things are more frustrating than finding an apartment you want, completing the application, paying the application fee, and then receiving a message that says: “Your rental application has been denied.” It can be especially confusing if your credit seems fine and you do not know of any serious problems in your rental history. The answer may be hidden in a document many renters never see until something goes wrong: a tenant screening report , so...

Seeing “AUX Heat” on your thermostat does not automatically mean your heat pump is broken. Short periods of auxiliary heat can be normal during very cold weather, a defrost cycle, or recovery from a large thermostat setback. But if your backup heat is a 10 kW electric resistance heater, one hour of operation can add about $0.39 to $3.91 in electricity commodity charges under current Ontario rates. If you live in Ontario and heat your home with a heat pump, you may eventually notice AUX Heat, Auxiliary Heat, EM Heat, or Emergency Heat on your thermostat. For many homeowners and renters, the first reaction is concern: Is the heat pump failing? Is an electric heater running? Is this why the hydro bill suddenly jumped? Sometimes the answer is completely normal. At other times, extended backup-heat operation can point to a thermostat setting, airflow problem, equipment issue, or simply a heating system that is relying heavily on expensive electric resistance heat. ...