Canada's Jobs Report Surprised Everyone. Here's What It Means for Mortgage Rates.

Canada's labour market came in stronger than expected in June, and it just changed the math on Bank of Canada rate cuts. Unemployment dropped, full-time hiring led the way, and wages are still growing faster than the Bank would like to see. Rates aren't going up, but they may not fall as quickly as some borrowers were hoping. Here's what it means if you're buying, renewing, or on a variable rate heading into the July 15 announcement.