How Rising CPI Rates Impacts Real Estate: Inflation, Interest Rates & Mortgage Security – What You Need to Know!

June 28, 2024

Welcome to our new episode of Make Money Count!  In this episode, we discuss the latest CPI numbers and explore the real estate market, giving you tips on buying a home in today’s ever changing landscape. With scams on the rise, we also share important tips on how to stay safe during the mortgage process. From budgeting to home buying, this episode is packed with valuable information to help you navigate these turbulent financial times with confidence!

This Episode Highlights

Economic and Real Estate Update

In this episode, we analyze the latest Consumer Price Index (CPI) numbers, which were higher than expected. This rise has significant effects on interest rates and the real estate market. Find out how high interest rates and housing costs are affecting inflation and what it could mean for possible rate cuts by the Bank of Canada.

Impact of CPI Components on Inflation

We break down the components of the CPI, highlighting how shelter costs are a major factor in driving inflation. Learn about the surprising rise in transportation costs and how changes in cell phone bills are shaping the economy. Our discussion also covers bond yields and their direct influence on mortgage rates.

Mortgage Fraud and ID Verification

Mortgage fraud is on the rise, with 63,000 cases reported last year leading to significant financial losses. This episode explains the importance of title insurance and the enhanced ID verification processes now required to close mortgage transactions. Understand how these measures are making the process safer for everyone involved and what you need to know as a borrower.

Stay tuned for our next episode, where we’ll bring you new and valuable insights along with practical tips to empower you in managing your finances effectively! Don’t forget to subscribe to our YouTube channel and follow us on social media for more updates!

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