The numbers have just been released and our inflationary rate dropped from 6.8% in November to 6.3% in December. This is .1% below expectations. This is just proof that we are headed in the right direction but will it be enough for the Bank of Canada to put a pause on future rate increases. We won’t have the answer on that till next week when the Bank meets on Wednesday January 25 to tell us what they are going to do.
Note of caution that we are still well above the 2% target rate for inflation and also still up from the 5.1% rate that we had in January of 2022. All in all we should be pleased that for the past 6 reporting periods the rate has come down from the high of 8.1% achieved in June of 2022. If we keep this up we may still achieve the soft landing that the BOC has been talking about rather than a hard landing which a recession would bring.
Today I am thankful for the inflation rate coming down from it’s peak last year, starting to notice the results since I have dialled up the intensity in my workouts and a new book with some new perspectives.
I look forward to hearing from you in regard to your mortgage needs.
p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).
p.s.s.s You can download my new mortgage app here