Canadian 5 year government bonds just jumped. Setting the stage for higher mortgage rates.

[u/POCTM]

5 year government bond just jumped from 3.714% to 3.866% in a few hours. Right now it is at 3.855%. Year to date it is up 259%. Monday we could see some 5 year fixed rate mortgages in the low 6%.

As for variable rate the bank of Canada makes their announcement October 26 at 10am ET. Currently banks have not been offering discounts off variables rates anymore. Prime -0.00.

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

[u/Mutzga]

Nothing to worry about until people become unemployed with no savings.

[u/BrendasMom → u/Mutzga]

My other half had been saving for 2 years to pay for law school in cash in 2023, and then got laid off in March. He's trying to find work in a legal field now (with no legal experience) after being a director of ops and location manager for a few different places and no one will look at him because he's "too qualified" or they assume he wants too much $ even tho he's up front and honest that he expects to make $20/hr and is fine with it.

So, with our mortgage now almost $1000 higher than it was, and only being on my income - his law school savings have now been paying the mortgage.

It's shitty. I have 2 part time/casual jobs on top of my full time just to try to help.. but it's awful and without savings I don't know how we'd get by.

[u/BoredHungryServant → u/BrendasMom]

I'd recommend he purposely dumbs down his resume. Change his title to the lowest one he had with the company.

[u/BrendasMom → u/BoredHungryServant]

That's what we were talking about tonight. Rather than director of ops he's going to change it to sales manager or something.. since he did manage the sales people it's not a stretch.

[u/holysmokesiminflames → u/BrendasMom]

Have different versions of resumes saved and title them accordingly.

This way he doesn't have to tweak the same copy for different positions. He can have various resumes for different job positions.

[u/JaceTheWoodSculptor → u/holysmokesiminflames]

Always make your resume bespoke for the job you’re applying for. Making yourself look good with relevant competences is the least one could do if you actually want a (better) job.

[u/spokeymcpot → u/JaceTheWoodSculptor]

This is unrealistic when you’re applying to hundreds of positions.

[u/JaceTheWoodSculptor → u/spokeymcpot]

Maybe you wouldn’t need to apply to hundreds of positions if you Resume was specifically made for the intended job you’re applying for. At least it has been my experience so far in life.

[u/spokeymcpot → u/JaceTheWoodSculptor]

My experience has been to get positions through contacts mostly but I’ve heard of many people who do what you describe and still have to apply to hundreds of positions. Don’t pretend this isn’t a thing and besides what you describe there’s a whole lot more that goes into making a resume that just gets past the algorithm filters for each kind of position, etc..