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October Inflation Holds Steady


October's inflation number remains unchanged at 6.9% from September, yet economists say it's heading in the right direction. Why?
⛽️ The cost of fuel increased for the first time since June, by 9.2% over September due to production cuts.
🥦 While the cost of groceries is up 11% from last October, this is down from 11.4% in September vs last year.
👷‍♀️ Wages are up 5.6% over 2021 but this might not last for long amidst increasing interest rates and impending economic slowdown.
🇨🇦 The Bank of Canada's next announcement is scheduled for December 7th. They will most certainly raise the overnight rate again, this time predictions are either 0.25% or 0.50%. Hopefully the end of the hikes is in sight as it can take up to two years for interest rate increases to fully cycle through the economy.
If you have any questions or concerns about planning for 2023 into 2024 and beyond, I'm happy to have a chat and look at your individual situation and devise a strategy to protect your financial health.
📲 416-938-6556
📧 jenn@jennpricemortgages.ca



Contact Jenn Price-Locke

Jenn Price Mortgages | DLC Valko Financial Ltd.
Jenn Price-Locke

I am passionate about helping my clients become and remain homeowners and make their equity work for them. I truly care about each and every client and I take pride in being part of their trusted team of advisors.

Since I joined Dominion Lending Centres in 2016, I have originated hundreds of mortgages, from Prime A lenders, to Alternate B and Private loans. I am also able to help clients with construction and commercial loans. I understand the importance of identifying and working towards long-term goals and helping my clients achieve them. I work for my clients, not a bank or financial institution.

I have excellent relationships with my fellow mortgage professionals and mortgage lender teams. I am well-versed in a wide array of products and am passionate about placing my clients in mortgages that are tailored to fit their individual needs.

Every client is important to me and I always operate with integrity, transparency, creativity and care from the heart. Rest assured, I will always find The Right Mortgage For You!

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