That's a good point. Likely, rates have mostly peaked. There will potentially be downward pressure soon.

On top of that, many cars are hard to get. Low production, backlogged demand. This means fewer deals on finance and lease rates.

I remember 0% lease and finance rates, 15 years ago when the interest rate was this high, because car companies wanted to move product. But now they have no need, not with them unable to supply demand.

So my point is, I decided to keep my current car longer. Rates matter.

> rates have mostly peaked

What is this based on? I am not so sure if I believe that. Canada's inflation rate jumped to 4% last month (although a lot of that was apparently due to an increase in gasoline prices).

It is not 4% per month, that is the yearly rate, as a current value. And it didn't "jump", it went up a tiny bit.

Target inflation for the Bank of Canada is around 2% yearly. The bank did not increase rates the last round, and inflation is dramatically down from a year ago.

It wants to ensure it doesn't over correct.

Fair points and I stand corrected in some of my wording. But that still doesn't explain why rates have "mostly peaked". It is equally possible that we are nowhere near the peak.

Many infatuationary pressures have eased. I could write a bunch of things here, but you'd get a better look if you googled on why the bank of canada has eased off a bit on rate increases.

Of course, the future is an unknown, but inflation is about half what it was a year ago.

Heck, there has been some talk of deflation! A lot of stuff peaked due to supply, and those prices could drop dramatically.

I speculate that we will be seeing more hikes. But I have been wrong before :)

That's why I said "mostly peaked". But rather than large jumps every announcement, I suspect we'll skip some, and only have small, quarter point corrections. Maybe one in October, and in the spring.

This indicates a soft landing, but I agree, we'll see. Anything could happen.