💬 Let’s Break It Down Simply
Canada’s latest job report brought some surprising news — the economy added 67,000 jobs in October, and the unemployment rate dipped slightly to 6.9%.
Sounds great, right?
Yes — but most of those jobs were part-time, and total hours worked actually fell a little.
That means the job market is steady, not booming. It shows the economy is holding together but still facing challenges — especially in Ontario, where unemployment is slightly higher at 7.9%.
🏦 What This Means for Mortgage Rates
Because the job market isn’t running too hot or too cold, the Bank of Canada is likely to keep interest rates on pause for now.
✅ Good news for anyone buying, renewing, or refinancing — rates should stay fairly stable in the short term.
This gives you a small window to plan your next move — whether that’s getting pre-approved, exploring your options, or locking in a rate before any changes come in 2026.
💼 What Lenders Are Watching Right Now
Even though job numbers are improving, many of those roles are part-time or contract-based. Lenders notice that. They’re paying closer attention to income stability when reviewing applications.
If your job is hourly, contract, or self-employed — don’t worry.
It just means being prepared matters more than ever.
💡 Tip: A mortgage pre-approval shows exactly where you stand and protects your rate while you shop.
🏘️ Ontario’s Housing Market: Steady with a Side of Optimism
In Ontario, buyers are cautious but still active. Some are waiting for rate cuts, while others are jumping back in now that things feel more balanced.
Many families are exploring refinance options to lower payments or free up cash flow. At the same time, more first-time buyers are re-entering the market, taking advantage of this pause in rate hikes.
🤝 How I Can Help
As both a licensed mortgage agent and real estate professional, my goal is to make the process smooth from rate shopping to home shopping.
Here’s how I can support you:
✨ Explain how economic trends affect your mortgage options
✨ Help you decide between fixed or variable with confidence
✨ Strengthen your mortgage application for approval success
Whether you’re buying, renewing, or refinancing, I’ll help you find a mortgage that fits your life today — and your goals tomorrow.
💬 Ready to Talk About Your Next Move?
Let’s connect and explore your options.
Together, we’ll turn today’s market conditions into your opportunity.
From Loan to Home — Your Trusted Path to Ownership. 🏡