High Rates For 2 Years Would Dramatically Change Housing

Inflation in Canada has been easing, with the current rate standing at 2.8%, the slowest since March 2021 and down from 3.4%. The largest factor contributing to this decline was lower gasoline prices compared to the same period last year, showing a decrease of 21.6%. However, shelter costs have risen by 4.8% year over year, driven by significantly higher mortgage interest costs (up 30.1% from the previous year) and increased rents (up 5.8% from June 2022). Moreover, grocery prices have surged...