Inflation Report, How-To Video & Rate Specials

CPI Inflation Report

We received an early Christmas gift from Statistics Canada yesterday morning regarding the consumer price index (CPI) report.

For the 6th month in a row the CPI remained relatively flat. the CPI has increased only 1.1 points with the last 6 months. This indicates the rate of inflation has slowed considerably, and now it will just take some time for the numbers to catch up.

Check out the video below to see what I mean.

The inflation rate decreased from 6.9% to 6.8%.

Based on the consumer price index (CPI) report from Statistics Canada, I am optimistic we will achieve the Bank of Canada’s goal of decreasing the inflation rate sooner than expected (Q3 of 2023).

Unless, of course, we see another large spike in fuel prices, or possibly another ship stuck in the Suez canal…

The Consumer Price Index is the underlying data used to determine the inflation rate.

Will There Be Another Rate Hike? 

I think so, the CPI numbers for December 2021 decreased slightly before posting ever increasing numbers from January to July 2022.

When the inflation report for December 2022 is released it will be using the December 2021 CPI numbers as the base, and since the base declined in this month, it will be very difficult a show a decreasing inflation rate.

Expect the inflation rate to increase from 6.8% to 7.1% before dropping down in February.

How to Calculate the Inflation Rate – Video

RATE SPECIALS

We continue to see mortgage rates decreasing in the 3-year, 4-year & 5-year fixed terms. I believe this trend will continue throughout 2023.

Insured Mortgages

5yr fixed as low as 4.79%

3yr fixed as low as 4.89%

25-yr Mortgages

1-yr & 2-yr – 5.59%

3yr: as low as 4.94% – 5.08%

5yr: as low as 4.79% – 5.09%

30-yr Mortgages

3yr: 4.99% – 5.12%

5yr: 4.79% – 4.99%

If you want to purchase a home in the next year or two, I would love to speak with you!

I help my clients by putting together home-purchasing plans so they can maximize their qualifying potential, and stay on-track with their timeline.

Adam Sale

Cell: 778-215-4121

Email: adamjsale@gmail.com or adamsale@dominionlending