Apartment Rent Growth Is Decelerating

Although Canadian inflation is on its way back to a preferred trend rate of 2%, the journey has been relatively slow, mainly due to specific factors in the Consumer Price Index basket related to shelter. The sharp rise in mortgage interest costs, which are entirely the result of past Bank of Canada interest rate hikes, is a major factor that has already garnered significant scrutiny in recent months. However, there is another housing-related contributor that requires similar attention.