Mortgage defaults within the London right up over 80%: Statement
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The number of London area homeowners defaulting on their mortgage payments have grown over 80 percent as highest interest rates catch with consumers who paid soaring home prices, another type of research suggests.
London met with the next high rate in the country, while the non-payments rose 83.3 % after the next quarter past seasons, next just to Barrie you to definitely watched defaults twice, states the fresh statement because of the borrowing agencies Equifax and you may Canada Home loan and Casing Corp.
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Brand new statement measured mortgage delinquency rates regarding 3rd quarter of 2023, comparted to the exact same months a year before.