Good news for GTA homeowners and prospective buyers! Recent strong employment numbers in Canada suggest the Bank of Canada is likely to hold its key interest rate at 2.25% in December. November saw a surprising addition of 54,000 jobs, driving the unemployment rate down to 6.5%, the lowest since mid-2024. While youth and part-time employment led the gains, sectors like healthcare and social assistance experienced significant growth. Wage growth remains moderate, a key factor for the Bank of Canada. For GTA mortgage professionals and their clients, this likely signals a period of rate stability, shifting focus to renewal strategies in a restrictive environment. For a deeper dive into the national perspective and expert analysis, check out the original article on mpamag.com.
Read the original story here: https://www.mpamag.com/ca/news/general/jobs-surprise-likely-confirms-a-boc-rate-hold-in-december/559168
