Market Update

Mortgage delinquency rates in Ontario are higher than anywhere else in Canada

Mortgage delinquency rates in Ontario are the highest in Canada, with over 3,000 mortgages in severe delinquency, totaling over $1 billion—an increase of about 66% from last year. While inflation stabilizes and interest rates decrease, rising unemployment contributes to financial stress. Consequently, many young Canadians are delaying homeownership, with nearly 30% of households nationwide, and 33% in...

Ontario Helping Build More Homes in London

The Ontario government is investing over $23 million to construct 17,576 new homes in London, funded through the Housing-Enabling Water Systems Fund. This initiative aims to enhance drinking water and wastewater infrastructure, supporting the city's growing population and economic growth. The total investment in the fund has reached $1.2 billion, with additional funding for rural municipalities....

What’s preventing more residential growth in downtown London?

London's building boom has reached the limits of its sewage capacity, prompting Ontario Premier Doug Ford to announce a nearly $24 million investment for residential development in the downtown area. This funding will cover about 75% of the costs for a new larger sewage pipe to connect Downtown London to the Greenway Wastewater Treatment Plant, allowing for the construction of an additional 17,576...

What Is A Halal Mortgage?

Many Muslim Canadians face challenges in obtaining conventional mortgages due to the prohibition of interest (riba) in Islam. Halal mortgages offer an alternative, structured to comply with Shariah law, allowing for profit-sharing instead of interest payments. There are three main types: Musharaka (partnership), Murabaha (cost plus profit), and Ijara (lease). Currently, only a few institutions in Canada...

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