I am not talking about you being a potty mouth but the actual language and words that you use to communicate. More precisely I want to reference to what the US Fed chair Jerome Powell said at their most recent meeting this week. While Canada and the US are two distinct countries, we are pretty much joined at the hip economically.

When the US Federal Reserve met this week they increased their overnight lending rate by 75 basis points vs the 50 basis points increase from the Bank of Canada recently. The important part is what the Fed Chair said as part of his announcement, he said ” There is significant uncertainty around that level of interest rates & we still have some ways to go, and incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected”.

So while the inflation rate in both are countries is dropping, we are currently at 6.9% here in Canada vs the high of 8.1% back in June and the US is at 8.2% vs their high of 9.1%. These are both off the target rate of 2%. The next key measure will be when the US announces their inflation rate for the month of November next Thursday. A large decrease will take the press of any oversized rate increases and if it still remains stubbornly high then more drastic measure may be in order.

While I love the flexibility of the variable rate, it may soon be time to lock in for some stability to prevent any future rate increases. Give me a call and see if it is something that you should consider.

Today I am thankful for a very productive week and all the great people I got to meet face to face, receiving great reviews online from my clients and for my Dad who always made sure that we used proper grammar as he said that proper use of language is important to being understood.

I look forward to hearing from you in regard to your mortgage needs.


p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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