At Lendworth, we’re closely tracking inflation trends to help our clients make smarter borrowing decisions—especially in a high-rate environment where every dollar counts.
🔍 Key Inflation Insights for May 2025:
- Core inflation indicators (CPI-Trim and CPI-Median) both dipped slightly to 3.0%, down from 3.1% in April. These are critical metrics the Bank of Canada uses to assess future interest rate moves.
- Energy prices led the drop, with gasoline falling 15.5% year-over-year.
- Cellphone services also got cheaper, down 5.5%, helping Canadians reduce monthly bills.
- Food inflation remained elevated at 3.4%, but eased slightly from April’s 3.8%.
- Shelter prices slowed, now rising at 3.0% compared to 3.4% in the previous month.
- Mortgage interest costs, while still high, are decelerating—up just 6.2%, marking the 21st straight month of slowdown.
- EV prices drove a 4.9% increase in vehicle costs—pushing many buyers to consider HELOCs or second mortgages to upgrade their cars affordably.
🏦 What’s Next from the Bank of Canada?
With the policy rate holding at 2.75%, the Bank of Canada has signaled it’s waiting on more data from May and June before deciding whether to lower rates at its end-of-July meeting. One major variable? Ongoing trade tariffs. Governor Tiff Macklem has warned that unless tariffs are eased, inflation may tick back up.
At Lendworth, we believe timing matters—and now may be the right moment to refinance your mortgage, tap into your home equity, or secure a second mortgage before any new rate hikes.
💡 What Lendworth Can Do for You Right Now:
- ✅ Quick approvals on home equity loans, second mortgages, and refinancing
- ✅ Custom loan solutions even with rising living costs
- ✅ Transparent guidance based on market data—not hype
If you're looking to make smart moves in a softening but unpredictable market, Lendworth is your edge. Whether it’s debt consolidation, renovations, or locking in a better rate—we’re here to help.
📞 Contact us today to speak with a lending advisor or get pre-approved online.