🗞️
Also in this edition:
• OSFI on its 2024 Mortgage Tightening Plans
• The Value Zone
• Mortgage Bytes
• OSFI on its 2024 Mortgage Tightening Plans
• The Value Zone
• Mortgage Bytes
We won't swing from the chandeliers just yet, but the fact is, Canada's mortgage market just got precisely what the doctor ordered—significantly better-than-expected inflation. And it came just in the nick of time, as the rate market was getting jittery.
Here's the latest CPI report card from StatsCan:
• Y/Y inflation: 2.9% (vs. 3.3% est. & 3.4% prev.)
• M/M inflation: 0.0% (vs. 0.4% est. & -0.3% prev.)
• Avg core inflation: 3.35% (vs 3.6% est. & 3.6% prev.)
​​
BoC rate hikes are providing much of the air that keeps inflation pumped up. Strip out mortgage interest from the calculation, and inflation is hitting the bullseye at 2%.
đź’ˇ
"The difference between annual headline CPI (2.9%) and shelter inflation (6.2%) is now at a its widest level since 1982," says National Bank.
Looking ahead
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
Comments
Sign in or become a MortgageLogic.news member to read and leave comments.
Just enter your email below to get a log in link.