From Financialpost · · 40s
Weak jobs report eases mortgage rate pressure
Poor Canadian jobs data lowers Bank of Canada rate hike chances.
In brief
Poor Canadian jobs data lowers Bank of Canada rate hike chances. Canada's job market decline reduces near-term Bank of Canada rate hikes as fixed mortgage rates stabilize. Originally reported by Financialpost.
Canadian jobs report
Canada's job market declined for the second straight month with rising unemployment.
Bond yields drop
Bond yields fell immediately, reducing pressure on fixed mortgage rates.
Current mortgage rates
Three-year fixed rates start at 4.39 per cent insured and 4.59 per cent uninsured.
Rate hike expectations
Most economists expect the Bank of Canada to hold rates in October but December remains possible.
What matters most
Canada's job market decline reduces near-term Bank of Canada rate hikes as fixed mortgage rates stabilize.
