Best mortgage rates - London

If you are looking to search for the best mortgage rates in London, you've come to the right place. RateSupermarket.ca compares over 55 mortgage lenders and London mortgage brokers so you'll be sure to find the best mortgage rates in London.

You can either go compare mortgage rates now or look at the latest London mortgage news listed below.

Toronto area (including London) Mortgage Rates Will Remain Relatively Flat

The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Housing Association Market Outlook that posted mortgage rates eased by about 50 basis points in the first four months of this year, although rates in late April were 30 to 35 basis points higher than they were 12 months prior. Mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels.

For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50- 7.50 per cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-7.50 per cent range.

CMHC London area housing market & London area mortgage rate forecast

Unfortunately, the CMHC doesn't report on London specifically regarding the housing and mortgage market, however, we've included the closest surrounding areas.

Census Metropolitan Area		Total Housing Starts	MLS sales	MLS average price	Mortgage rates (1 year)	Mortgage rates (5 year)
Hamilton	2007	3,004	13,866	$268,857	7.35%	7.54%
	2008 (F)	3,040	12,900	$285,000	6.95%	7.01%
	2009(F)	2,890	12,100	$296,000	6.83%	6.97%
Toronto	2007	33,293	95,164	$377,029	7.35%	7.54%
	2008 (F)	35,000	84,000	$394,000	6.95%	7.01%
	2009(F)	33,600	77,000	$404,000	6.83%	6.97%