Canada’s inflation rate cooled to 1.7% in July, thanks mostly to lower gas prices. This is good news because when inflation goes down, the Bank of Canada is more likely to lower interest rates.
Right now, markets are watching closely — there’s about a 40% chance of a rate cut in September. If that happens, it could mean lower mortgage rates and more affordable payments for homeowners and buyers.
But not everything is slowing down. Food prices rose 3.3% and housing costs went up 3%, which means everyday expenses are still putting pressure on Canadians.
Why this matters:
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Lower inflation makes it easier for the Bank of Canada to cut rates.
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A rate cut could mean cheaper mortgages and lower payments.
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Planning ahead now can help you take advantage if rates move down.
At TopRankinMortgages, we keep an eye on these changes every day so you can make the right move — whether you’re buying, renewing, or refinancing.
At TopRankinMortgages, we help you navigate this steady (and familiar) market with clarity and confidence. No stress, no pressure—just smart mortgage guidance when you need it.
Have questions about how this affects your mortgage? Let’s chat!
