London Ontario Real Estate Market January UPDATE: Déjà vu?

#londonontariorealestate #londonontario #canadianrealestate

London’s real estate market continued to see price declines in January, but is showing signs of a market that is eerily similar to that of 2023 (with a few differences).

Links:

London and St. Thomas Residential Market Activity and MLS® Home Price Index Report January 2024:

https://www.lstar.ca/sites/default/files/pdfs/Monthly%20MLS%C2%AE%20Statistics/January-2024/Residential-Market-Activity-Report-for-LSTAR_January-2024.PDF

Will the Bank of Canada cut interest rates this year? What market watchers are saying:

https://globalnews.ca/news/9464841/bank-of-canada-lending-rates-cut-survey/

Interest Rate Drops To Begin By End of Year: Financial Experts:

https://storeys.com/bank-of-canada-interest-rate-cuts-predicted-2023/

Interest rate cuts will be the story of 2024 — what that means for mortgages and more:

https://financialpost.com/investing/interest-rate-cuts-story-2024-mortgages

Bank of Canada will cut three times next year to bring rate to 4.25%, Deloitte predicts:

https://financialpost.com/news/economy/bank-of-canada-to-cut-rates-three-times-2024-economist

Canada’s economy grows more than expected, easing pressure on Bank of Canada to cut rates:

https://financialpost.com/news/economy/canada-economy-beats-forecasts-easing-pressure-bank-of-canada

Strong job gains may dent Fed confidence on inflation:

https://ca.finance.yahoo.com/news/strong-job-gains-may-deal-153104429.html

Homebuyers’ frenzy growing even before Bank of Canada rates go down:

https://financialpost.com/real-estate/homebuyers-frenzy-growing-even-before-bank-of-canada-cuts-rat

London jobless rate improves slightly to close record-setting 2023:

https://lfpress.com/news/local-news/london-jobless-rate-improves-slightly-to-close-record-setting-2023

The US economy ended 2023 with a bang:

https://ca.finance.yahoo.com/news/us-economy-ended-2023-bang-213605532.html

U.S. economy added 353,000 jobs in January, much better than expected:

https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html

Canada’s economy got a lift late last year. Why that might delay rate cuts:

https://globalnews.ca/news/10262173/canada-november-gdp-data/

How liars create the ‘illusion of truth’:

https://www.bbc.com/future/article/20161026-how-liars-create-the-illusion-of-truth

Mortgage rates ‘reeling’ after Silicon Valley Bank’s collapse and this economist says borrowers can capitalize on the current volatility — here’s how much you could save on your home loan:

https://finance.yahoo.com/news/silicon-valley-banks-sudden-collapse-140000054.html

SVB instability could drive some Canadian mortgage rates lower. Here’s why:

https://globalnews.ca/news/9551061/silicon-valley-bank-canada-mortgage-interest-rates/
Mark Mitchell – Mortgage Broker London Ontario
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