Building permits fell 6.5% in September

Derek Vaillant || November 09, 2023

Derek Vaillant || November 09, 2023

Derek Vaillant || November 09, 2023

The total value of Canadian building permits fell 6.5% in September to a seasonally adjusted $11.2 billion, according to Statistics Canada.


Residential permits, however, rose 4.3% to $7.2 billion in the month, led by a 37.2% monthly increase in British Columbia. Construction intentions were also up in Newfoundland and Labrador (+20.8%), PEI (+16.2%) and Nova Scotia (+10.3%).   


For the third quarter, a total of 64,400 new units were authorized through building permits, 13,600 of which were single-family homes. StatCan noted that this increase follows six consecutive quarterly declines in construction intentions for the single-family home component.


September building permits data will be released on December 7, 2023.

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Why should I use a mortgage broker?

There are several benefits to using a mortgage broker. Firstly, brokers have access to a wide range of lenders and loan products, allowing them to shop around and find the best mortgage options tailored to your needs. Additionally, brokers can provide personalized advice and guidance throughout the mortgage process, helping you navigate complex financial decisions. They also handle much of the paperwork and negotiation on your behalf, saving you time and stress. Overall, working with a mortgage broker can help you secure the most favorable terms and streamline the homebuying process.

Why should I use a mortgage broker?

There are several benefits to using a mortgage broker. Firstly, brokers have access to a wide range of lenders and loan products, allowing them to shop around and find the best mortgage options tailored to your needs. Additionally, brokers can provide personalized advice and guidance throughout the mortgage process, helping you navigate complex financial decisions. They also handle much of the paperwork and negotiation on your behalf, saving you time and stress. Overall, working with a mortgage broker can help you secure the most favorable terms and streamline the homebuying process.

Why should I use a mortgage broker?

There are several benefits to using a mortgage broker. Firstly, brokers have access to a wide range of lenders and loan products, allowing them to shop around and find the best mortgage options tailored to your needs. Additionally, brokers can provide personalized advice and guidance throughout the mortgage process, helping you navigate complex financial decisions. They also handle much of the paperwork and negotiation on your behalf, saving you time and stress. Overall, working with a mortgage broker can help you secure the most favorable terms and streamline the homebuying process.

How are mortgage brokers paid?

Mortgage brokers are typically paid through commissions from lenders. When a borrower successfully obtains a mortgage through a broker, the lender pays the broker a commission, which is a percentage of the loan amount. This commission is usually a one-time payment and is disclosed to the borrower as part of the loan terms. It's important to note that while brokers are compensated by lenders, their primary goal is to find the best mortgage solution for their clients, as their reputation and future business depend on customer satisfaction.

How are mortgage brokers paid?

Mortgage brokers are typically paid through commissions from lenders. When a borrower successfully obtains a mortgage through a broker, the lender pays the broker a commission, which is a percentage of the loan amount. This commission is usually a one-time payment and is disclosed to the borrower as part of the loan terms. It's important to note that while brokers are compensated by lenders, their primary goal is to find the best mortgage solution for their clients, as their reputation and future business depend on customer satisfaction.

How are mortgage brokers paid?

Mortgage brokers are typically paid through commissions from lenders. When a borrower successfully obtains a mortgage through a broker, the lender pays the broker a commission, which is a percentage of the loan amount. This commission is usually a one-time payment and is disclosed to the borrower as part of the loan terms. It's important to note that while brokers are compensated by lenders, their primary goal is to find the best mortgage solution for their clients, as their reputation and future business depend on customer satisfaction.

What type of mortgage is best for me?

The best type of mortgage depends on your financial situation and goals. Fixed-rate mortgages offer stable payments, while adjustable-rate mortgages may have lower initial rates but can fluctuate over time. We can discuss your options to find the best fit.

What type of mortgage is best for me?

The best type of mortgage depends on your financial situation and goals. Fixed-rate mortgages offer stable payments, while adjustable-rate mortgages may have lower initial rates but can fluctuate over time. We can discuss your options to find the best fit.

What type of mortgage is best for me?

The best type of mortgage depends on your financial situation and goals. Fixed-rate mortgages offer stable payments, while adjustable-rate mortgages may have lower initial rates but can fluctuate over time. We can discuss your options to find the best fit.

How much can I borrow?

The amount you can borrow depends on several factors, including your income, credit score, existing debts, and the lender's criteria. We can assess your financial situation to determine a suitable loan amount.

How much can I borrow?

The amount you can borrow depends on several factors, including your income, credit score, existing debts, and the lender's criteria. We can assess your financial situation to determine a suitable loan amount.

How much can I borrow?

The amount you can borrow depends on several factors, including your income, credit score, existing debts, and the lender's criteria. We can assess your financial situation to determine a suitable loan amount.

What's the difference between pre-qualification and pre-approval?

Pre-qualification is an informal estimate of how much you might be able to borrow based on basic financial information. Pre-approval involves a more thorough review of your finances, including a credit check, and provides a conditional commitment for a specific loan amount

What's the difference between pre-qualification and pre-approval?

Pre-qualification is an informal estimate of how much you might be able to borrow based on basic financial information. Pre-approval involves a more thorough review of your finances, including a credit check, and provides a conditional commitment for a specific loan amount

What's the difference between pre-qualification and pre-approval?

Pre-qualification is an informal estimate of how much you might be able to borrow based on basic financial information. Pre-approval involves a more thorough review of your finances, including a credit check, and provides a conditional commitment for a specific loan amount

What documents do I need to apply for a mortgage?

Generally, you'll need documents such as pay stubs, tax returns, bank statements, and proof of assets. The exact requirements may vary depending on the lender and the type of loan you're applying for.

What documents do I need to apply for a mortgage?

Generally, you'll need documents such as pay stubs, tax returns, bank statements, and proof of assets. The exact requirements may vary depending on the lender and the type of loan you're applying for.

What documents do I need to apply for a mortgage?

Generally, you'll need documents such as pay stubs, tax returns, bank statements, and proof of assets. The exact requirements may vary depending on the lender and the type of loan you're applying for.