The Globe and Mail reports in its Thursday edition that the Bank of Canada held interest rates steady at 5 per cent for a third straight decision Wednesday, but inflationary risks remain. The Globe's Mark Rendell writes that while overall price pressures are easing, there are still pockets of high inflation. Housing costs, in particular, continue to surge. Rent was up 8.2 per cent in October from a year before. Mortgage interest costs, which are directly tied to Bank of Canada policy decisions, were up 30.5 per cent year-on-year. So far, about 40 per cent of Canadian homeowners with mortgages have seen their monthly payments reset higher, BoC said in early November. Most remaining homeowners will see their rates reset by the end of 2026, with some heavily indebted borrowers facing "significantly higher payments." Housing affordability metrics have deteriorated as mortgage costs have risen without much of an offsetting decline in home prices. TD Bank economist Rishi Sondhi said he expects average home prices in Canada to decline about 10 per cent between the third quarter of 2023 and the end of the first quarter of 2024. Since summer, home sales have slowed significantly while the number of new listings has climbed.