The BoC Is Holding. Wages Are Cooling. Move-Up Buyers Are Moving.

Canada added 88,000 jobs in May — eight times what economists expected — and fixed mortgage rates barely moved. That's the story of this week's market, and it says more about where the Bank of Canada is headed on June 10 than any forecast you'll read. With Canada in a technical recession and wage growth cooling to 3.0%, my read is the Bank holds. Not raising, not cutting.

On the ground across the Fraser Valley, detached benchmarks are down 7.9% year-over-year and inventory remains well above historical norms. Move-up buyers with existing equity are stepping into homes that weren't within reach two years ago — and this week's property spotlight is a five-bedroom Mission detached with a registered suite, priced at $889,900 with a bi-weekly payment example included.

Full breakdown inside: May stats for Metro Vancouver and the Fraser Valley, the rate environment ahead of Wednesday's BoC decision, and what's worth doing across the Lower Mainland this weekend.

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