Are Mortgage Rates Headed Up?
Do we have a looming threat of stagflation in the Canadian economy, which would trigger higher inflation and mortgage rates? This week’s guest post by mortgage planner, Dave Larock, looks at this very topic.
Anyone keeping an eye on Canadian mortgage rates should pay special attention to our Labour Force Survey (commonly referred to as our ‘employment report’), which is released by Statistics Canada each month.
The Survey gives us a bevy of useful information about whether and where our economy is adding jobs, whether average incomes are rising or falling, and whether the average worker is putting in more or less hours of work each month. Together, these factors combine to give us valuable insight into where our overall economic momentum is headed.
Here are the data from the latest report, which was released last Friday, with some thoughts on its implications for Canadian mortgage rates:
David Larock is an independent full-time mortgage planner and industry insider. Visit his blog for many more interesting articles and some great mortgage advice.