Mortgage Insurance in Canada
Mortgage insurance is a kind of insurance that was developed to compensate financial institutions or investors should a homeowner default on their loan. It is required for any mortgage where…
A Beginners Guide to Mortgage Insurance and how does it affect you?
A Beginners Guide to Mortgage Insurance and how does it affect you? Mortgage default insurance, also known as CMHC insurance, is mandatory for Canadian homeowners who have a downpayment of…
National Mortgage broker conference -B20
MORTGAGE STRESS TEST ADDRESSED AT THE CONFERENCE On Monday Oct 29 2018, CMHC addressed a few questions regarding the regulatory changes in the mortgage industry at the National Mortgage Broker…
Mortgage Newsletter
CMHC cutbacks announced The budget announcement quietly slipped in changes to government-backed mortgage insurance, including reductions to the amount of new guarantees CMHC will provide. “The Government continues to adjust…
New Immigrants – Buying your first home.
GETTING PRE-APPROVED BEFORE SHOPPING It’s a good idea to sit down with your mortgage broker/ specialist to discuss your needs and get mortgage pre-approval. Pre-approval means that your lender commits to…
Jim Flaherty Receptive to the idea of ending CMHC
The International Monetary Fund recently suggested that Canada should consider winding down government backing of mortgages — and Finance Minister Jim Flaherty is sounding receptive to the idea. Ending or…
Flaherty charges CMHC new risk fee on mortgages
Finance Minister Jim Flaherty is taking another step to curb taxpayers’ exposure to the housing market, by charging Canada Mortgage and Housing Corp. a new risk fee. As of Jan.…
CMHC Mortgage default Insurance
No one wants to inflate a housing bubble by encouraging folks who can’t afford the debt to buy. But many creditworthy first-time homebuyers are paying much more than they should…
Canadian Mortgage Rules
Changing regulations in Canada’s mortgage market Since 2008, the federal government has made several changes to the rules for mortgages insured through the Canada Mortgage and Housing Corporation (CMHC) and…
CMHC Mortgage Insurance
OTTAWA--Canada's government-backed mortgage insurer said it will cap the amount of mortgage-backed securities it is willing to guarantee, in the latest move by officials here to temper Canada's housing sector.…