Tag: Bank of Canada
London area housing starts triple in August, third best in province
The number of housing starts in the London area more than tripled in August compared to the same month last year, an indication economic conditions are on the upswing, both the mayor and an organization representing builders say. Construction began last month on 470 units in the London census metropolitan area (CMA), which includes St. […]
Snaith: Will new mortgage rules help more young Canadians buy homes?
Stuart Snaith, University of Victoria In a bid to address Canadaâs housing crisis, Deputy Prime Minister and Finance Minister Chrystia Freeland announced new changes to mortgage rules on Sept. 16, set to take effect in December, aimed at making housing more affordable. The first major change is an increase in the price cap for insured […]
30-year mortgage option may spark London’s sluggish housing market: Brokers
A decision by Ottawa to allow first-time homebuyers to access 30-year mortgages for resale properties may give London’s sluggish housing market a much-needed jolt, with local industry watchers saying the move already is sparking interest among would-be buyers. Earlier this week, Finance Minister Chrystia Freeland announced changes to mortgage rules, moving the cap for insured […]
London mortgage delinquencies double, more headwinds loom
The number of Londoners behind on their mortgage payments has doubled in the the past two years, as the burden of higher interest rates overwhelms some homeowners.
So how is London doing on its goal to build 47,000 new homes?
More than 25 per cent of the way through London’s 10-year commitment to a provincial housing target, the city has seen 11 per cent of the expected homes built or started.