JOBS SHOCK Canada Adds 67k Jobs. Why Its Bad News for Your Mortgage Rate

Описание: Jobs are UP, but Home Sales are DOWN.

Here is your Mortgage Minute for the week ending November 7. The economy is sending very confusing signals.

The Job Shock: The economy added 67,000 jobs, crushing expectations of a 20,000-job loss. This makes more Bank of Canada rate cuts less likely.

The Consumer Pinch: Despite the job numbers, 46% of Canadians are using savings just to cover daily expenses. In Toronto, 32.3% of households are struggling to meet their financial needs.

The Housing Disconnect: The housing industry is warning that the new Federal Budget is "too narrow" to fix the construction slowdown. The proof? While the wider economy gained 67,000 jobs, the construction sector lost 15,000.

My Take: The strong job market will keep pressure on interest rates, even while the housing sector itself is under serious stress.

If you are seriously planning to buy in this market, a simple pre-approval isn't enough. You need a clear mortgage strategy.

DM me to get clarity on your numbers.

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