Industry & Market Highlights  Average home price in London, ON rises in November Home prices in London, ON have risen in November, according to data from the London St. Thomas Association of Realtors (LSTAR). LSTAR revealed that the average home price in London was $416,116 in November, up 10.6% compared to November 2018. Broken down […]

Industry & Market Highlights  Mortgage business on the move In an effort to fill in some of the gaps in the country’s housing market data Canada Mortgage and Housing Corporation has launched a new Residential Mortgage Industry report.  The agency says the report is designed to support “evidence-based policy and informed decision making within the […]

Industry & Market Highlights  Canadians are smarter that that The liberal government has been very disruptive to the real estate and mortgage industry, and has severely negatively affected the economic prosperity of most Canadians.  First the Liberal Government created lending rules that were not in the best interest of Canadians, and now in the months […]

Industry & Market Highlights  First-Time Home Buyer Incentive As of September 2nd 2019, Canadians interested in the First-Time Home Buyer Incentive can submit their applications for a shared equity mortgage with the Government of Canada.  The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. […]

Industry & Market Highlights  Bank of Canada Benchmark Qualifying Rate Effective July 22, 2019, the Bank of Canada 5-year Benchmark Qualifying Rate is 5.19%. What you need to know The qualifying rate legislation was created to ease customer affordability in the event renewal interest rates are higher than the rate received at origination. The Bank of Canada […]

Industry & Market Highlights \ CMHC’s First-Time Home Buyer Incentive Falls Short of Expectations The Canada Mortgage and Housing Corporation held an official announcement yesterday to release details of its First-Time Home Buyer Incentive (FTHBI). While officials reiterated how this shared-equity program will help young middle-class Canadian buyers, there were scant new details beyond what […]

Industry & Market Highlights  Rate hike disappears over the horizon The likelihood of a Bank of Canada interest rate increase appears to be getting pushed further and further beyond the horizon. The Bank is expected to remain on the sidelines again this week when it makes its scheduled rate announcement on Wednesday. A recent survey […]

Industry & Market Highlights  Federal budget’s housing measures miss the mark Incentives in the federal budget for first-time homebuyers crippled by soaring housing costs could worsen affordability woes. “It’s all about increasing demand for housing without doing much to increase supply, and you don’t need to be an economist to know that if you increase […]

London Mortgage Broker – Market Update Industry & Market Highlights  Liberal Government Woes & Housing    After two years of continuous rule changes reducing home owners purchasing power, creating a massive affordability gap, and stealing the future wealth from first time homeowners now unable to purchase their first home – the new Federal budget includes […]