CIII - Thursday, May 23, 2024 - 06:00 a.m. (ET) - Segment #11

>>> And that's what's making national andernational news. You're watching "global news morning" on thisrsday, may 23rd. We'll be right What's with all the pomp and circumstance? (Horn blaring) Start the clock. (Howling) (School bell ringing) (Clapping) It's a masterpiece.Amazing. Yes!(Cheering) Real recognize real. Yes! Ooh, it's on! (Grunting) I'm carrying this team! Yes! That's the wrong basket. Announcer: Abbott Elementary, season finale tonightat 7:30 et on Global. [Diving board rattles] [Ripping sound] [Water splashing] [Ding] At ok Tire, we can't solve all the problems in your life but, when it comes to your vehicle, it's going to be ok. At every ok Tire store, you'll find a local owner who lives in your community and might just be your neigh Because we live in your community, we're partners in your community. Ok Tire. Service, repair and tires. It's going to be ok. It's Leon's Storewide Super Sale! Save up to 50% on furniture. Save up to 50% on mattresses. Plus, get an l2 washer and dryer set ly $998 including a 2 year warranty! Two for five dollarWhopper Junior deal? Oh, just one's for me. [Car Accelerates] I lied! Stretch your dollarat Burger King when you mix n' match2 Whopper Juniors or Chifor 5 bucks. [ ] With lotto 6/49's two jackpots, what possible could you find? Play the growing Gold Ball jackpot plus the Classic jackpotof $5 million. [olg sting] For healthier meals every day of the week. Frigidaire ovens have 15 ways to cook. Like air fry and steam roast. To make life a little yummier. For all we share. Frigidaire. Right from the start,it's you >> Dawna: >> The other sign of mounting tension here came today in baghdad.uching off the most fierce fighting here inonth. >> President putin has said the hostage handling-taking was planned abroad. >> Sleeping on the floor, with little to eat and little hope. >> It is fragile truce and no one's certain it will hold. >> But right now, many westerners just thi it's tar for afar to risky to come here. >> Antony: earlier this wee statistics canada revealed the country's inflation rate slowed to 2.7%. So, from grocery and gas prices to rental and mortgage costs, how can this all impact you this week's edition of "your money" we're joined by our personal finan expert rubina ahmed-hack to discuss all that and more. Rubina, great to see u so let's get into the numbers. Of the lowest it's been in three years. Good news, right? >> Rubina: absolutely. This is what economists were predic ands in what the bank of canada is watching, and this gives some encourant that we could see rate cuts in 2024, which is obviously welcome relief for anybody that is paying more and more for their mortgage payments because they went variable or they recently renewed. So this is great new it is in that target range that the bank of canada w between 2 and 3%. Now, we've to wait and see what the bank of canada does next. >> Antony: and that's the big one, right? That's in a few weeks: early june. Some -- I've heard mixed opinion on whether they'oing to cut or whether they on. And if they do cut, it's going be incremental, isn't it? Reason. >> Rubina: they're always more aggressive going up than they are coming down, because usually if they're rest rates, it's in an emergency. Whereas you're coming down, it's more about how can we make sure that we lower interest rates out actually stoking inflation. Now, one of the most interesting things is that part of inflation is interest rates, is one of the things propping inflation up is the fact that interest rates are higher f they lower interest rates, that's actually going cool inflation, because people will be paying less for their gages, less for their loans. The other big one is gasolines also higher. And that's stoking inflation that's not going to be affected by interest rates bei cut. But that's something to bear in mind wyou think about why is inflation at 2.7%. What's bringing it down? What's keeping it up? >> Antony: interesting. Despite that. That's a silver lining. Seeing the light at the end etch the tunnel, because it's been a very long tunnel for a lot of time. With all of that said, as you know, rubina, there's a disconnect for a of people,

because the cost of living isstill very high for a lot of people, and even though it feels like it's slowing, people doesn't necessarily feel that. Grocery prices, people feel, right or wrong, that two-ts of canadians polled say grocery prices, for example, are still way too high. >> Rubina: so, it's like a true and false story at the same time. So, year-over-year, grocery prices have slowed, and that's why we're seeing that reflected inhe inflation rate data. But if being loot where grocery prices were whack back in april of 2 to new, they have come up 21%. So, in recent memory, we paid less for that same chicken, that same eggs, that same bread. You know, we could remember, wow, I remember when ket was x dollars at this same store and now the sal price is the same as the regular price. These are the conversations I hear people having over and over again. D the things that really affect our kay day-to-day cost, those are t ones that continue to be high. Gasoline. Yes, durable g are down, but how many times do you go and buysomething that you're going to keep in your home for years and years and years? So we don't feel it as much, cause the items that they hook at, the things this that are most affected are things that we don't buy on a daily basis. Gasoline, grocery... That's something people die on a daily basis. >> Antony: a lot of people now areenewing their mortgage. There's so many ons. Whether it's fixed or variable, one, three, five years, of course. Whould you advise people right now as they have that conversation with their banker a other lenders, for example? >> Rubina: I'm going to renew my mortgage in july. So I'll tell you what I'm doing. I'm talking to my bank early and I'm wing my options. I'm going to other banks to seeer me, and I'm waiting until the veryt day to renew, because I am in a fixed rate lower which is much lower than wi'm going to renew at. That's the obvious stuff. We can't be forecasters and try to guess the interest rate is going, because that can get you into trouble, thinking, well, interest rat are going down. I can get into this house that may be a little bit difficult right now for me to afford. So, don't go into any loan situation with that in mind. Ly just look at the numbers that are in front of youay. Can you afford that loan or the five years? Can you afford it if interest rates were to go up 2 perage points? Does it make up more than 30% of ur gross annual income? These are the numbers that you should be looking at to see if you can truly afford, especially if you're buying a home brand new or new to you, and if you're renewing. Just numbers that are in front of you. Don't try be a forter, because you might mak up ending a decision based on something th not actually facts. >> Antony: if you look at how many money you're putting into the intt payment every time you make a mortgage payment. Nonetheless. At is our personal financeexpert rubina ahmed-haq. Also the host of "for what it's worth" on corus radio and wherever you get your podcasts. Thanks again, rubina. I'm very good at solving murder cases. ANNOUNCER:Elsbeth, season finale tonightat 9 eastern on Global. (Clattering, horn honking) With the belairdirect app, you can quickly submit and track a claim. Like when a canoe crashes throug It's thatple. ( ) What do Ontario Dairy Farmers bring to the table? A million little things. From 5 am wake up calls... ...to living the words “never put off till tomorrow what you can get done today”. Bringing together what our parents taught us... and what our kids can. Passion, caring... ...learning and growing, year after year. The knowledge that if we set the table, every day, take care of the little things, the big things will take care of themselves. That's how you milk. Greetings from New Jersey. We welcome you with ways to explore the past From sky to shore. Sun to snow. Let the games begin. Discover culture-rich cities, time-honored towns, shopping meccas, and winning coasts. Create your memories. Visit New Jersey. Plan your vacation at visitnj.org/ca Support your pet's best lifewith food, treats & toys from Ren's Pets. Our knowledgeable stafwill help you makethe right selection. Virenspets.comto find a location near you. It's Leon's Storewide Super Sale! Save up to 50% on furniture. Save up to 50% on mattresses.

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