# Weak jobs report eases mortgage rate pressure

> Poor Canadian jobs data lowers Bank of Canada rate hike chances.
- Title: Weak jobs report eases mortgage rate pressure · Financialpost
- Summary: 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…
- Keywords: canada, bank of canada, mortgage rates, jobs report, fixed mortgage rates, unemployment, money, business, Weak, jobs, report, eases
- Source: Financialpost — https://financialpost.com/real-estate/mortgages/mortgage-rates/weak-jobs-report-eases-pressure-on-fixed-mortgage-rates
- Read time: 1 min
- Topics: canada, bank of canada, mortgage rates, jobs report, fixed mortgage rates, unemployment, money, business
## 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.
## Key takeaway

Canada's job market decline reduces near-term Bank of Canada rate hikes as fixed mortgage rates stabilize.