Now for some news that doesn’t make us want to lie down in the Costco parking lot.

Housing costs continued to cool in May.

Mortgage interest costs actually declined slightly compared to last year.

Rent inflation also eased to its slowest pace since early 2022.

In other words, after spending the last few years behaving like an unsupervised toddler who found a drum set and an energy drink, housing costs are finally calming down.

For homeowners and future buyers, that’s encouraging news.

It’s the financial equivalent of hearing, “We’re all good here.”

So… Are Interest Rates Going Up Again?
I know.

You didn’t read 800 words about inflation because you’re passionate about economic indicators.

You want the answer to one question:

“Are rates going up again?”

According to Dr. Sherry Cooper, probably not.

Her expectation is that the Bank of Canada will remain on hold through the rest of 2026.

Which is economist language for:

“Everybody keep your hands and feet inside the ride.”

The inflation numbers the Bank really pays attention to are still behaving themselves.

Nobody at the Bank of Canada appears to be running through the hallways screaming into a clipboard.

What Does This Mean for You?
It means you can stop checking mortgage rates every time you open your phone.

At least for now.

The reality is that most Canadians aren’t being crushed by one giant expense.

They’re being nibbled to death by ducks.

Gas is up.

Groceries are up.

Insurance is up.

Your streaming subscriptions somehow multiplied while you weren’t looking.

And every trip to Costco starts with:

“I’m just grabbing one thing.”

Which is adorable.

Twenty minutes later you’re wheeling out a kayak, a flat of sparkling water, and enough snacks to survive a minor apocalypse.

That’s why reviewing your finances matters.

Not because something is wrong.

But because small leaks become big leaks.

I’ve reviewed mortgages for clients who were convinced everything was fine, only to discover opportunities that could save them hundreds or even thousands of dollars each month.

And unlike tomatoes, mortgage savings don’t suddenly increase by 45%.

My Take
The inflation headlines are giving major “we need to talk” energy.

Terrifying at first.

Usually less dramatic once you know the full story.

Yes, inflation moved higher.

Yes, groceries continue to test both our patience and our budgets.

And yes, tomatoes have fully entered their celebrity era and now require their own security detail.

But beneath the scary headlines, the bigger picture remains relatively stable.

Housing costs are easing.

Core inflation remains contained.

And according to Dr. Sherry Cooper, the Bank of Canada appears comfortable staying right where it is.

So before you cancel your vacation, build a bunker, or start growing tomatoes in your backyard as a retirement strategy, take a breath.

The economy isn’t perfect.

But it’s also not on fire.

Unlike the price of produce.