Market Update: Inflation Under 3% for the First Time in 3 Years

Some more good news coming out of the markets today that will be positively affecting your ability to purchase, sell or invest in real estate. The Fed will be making an announcement at 2PM today but we should already be happy that the inflation rate has come in below projections at 2.9%, official marking it as the first time the inflation rate has fallen below the 3% mark in 3 years. On a six-month annualized basis, it's under 2%!

Here’s the 3 most important announcements that will affect interest rates and inflation.

Wednesday's Fed rate announcement

Wednesday's Canadian GDP

Friday's U.S. job numbers.

Now, let’s shift gears to the current interest rates:

Insured 5 Year fixed starts at 4.94% and 5.19% for 20% down or + Insured 5 Year Variable starting at 6.25% and 6.60% for 20% down or + Conventional (rentals / 1M + purchase price) starting at 5.19% fixed 5 years,

6.60% variable. 6.30% 5 Year-Variable (w/ 35% down) 1 Year fixed starting at 6.64% (Insured) 2 Year Fixed starting at 5.99% (Insured) 3 Year fixed starting at 5.14% (Insured)