Few things make people feel wealthier more than an increase in wages and gains in household budgets are generally good for the housing and mortgage industries. Statistics Canada has released its latest data on non-farm wages which shows that average weekly wages were $955 in September; 1 per cent higher than August and 1.7 per cent higher than September 2014. The sectors where workers have seen the strongest gains year-over-year include administrative and support services; wholesale trade; and education. Those in construction, mining and oil extraction were among those sectors with declining wages.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: