Our southern neighbour saw initial jobless claims surge on Thursday, stealing the spotlight from U.S. inflation. And the latter rose in its own right—by the most in seven months.

💡See also: Mortgage Tidbits (below). Wednesday's eye-opening pullback in U.S. wholesale prices bolstered expectations of Fed cuts. Attention now swivels to Thursday’s U.S. CPI. It’s the last piece of the inflation puzzle before Team Powell sets the path for the planet’s most-watched policy

Fed policy decisions often ripple northward to Canada's mortgage market, but Wednesday's announcement didn't make many waves for rates. What happens in the next few months, however, could be a different story. There's every indication that the Fed will remain on pause

💡See the Latest from Rateland below, including a few lender moves worth attention. Canada’s 5-year yield, fresh off a two-month breakout, eased back on Monday. Here’s why it lost some steam...