The minimum home down payment has been increased to 10% from 5% on homes priced over $500,000. What does this mean for buyers? Read on to find out .
Efforts to reduce the CMHC and taxpayers’ exposure to the risky mortgage market has paid off – the Crown corporation has reported it now covers only 50% of new residential mortgages. What does this mean for new borrowers?
The CMHC is the biggest provider of mortgage insurance in Canada, but recent efforts have focused on reducing their involvement with high-risk mortgages. The Crown Corporation reported $14-billion decline in insured mortgages in their 2014 annual report. Great news for taxpayers – but what does that mean for prospective borrowers?
Prospective home owners may see their affordability shrink as another set of mortgage rules are slated to go into effect this summer. Here’s what buyers need to know.
The Conservative government has introduced a number of tax credits and measures to save tax payers billions. Here’s what’s new – and what it means for your money.
Thinking of working with a financial advisor? It’s important to find the right pro for your needs and goals. Check out this week’s Money Wise guide on finding the right advisor, working with them to determine your investing strategy, and how to assess if the relationship is really working.
The Canadian housing market is getting downright chilly. As we experience the after effects of the new mortgage rule changes announced last month, it’s clear that coast to coast, our markets are in for a correction. What does this look like for the urban hot spot markets – especially hardest-hit Toronto?
The days of 30-year high ratio mortgages are over as the mortgage rule changes announced June 21st by the Department of Finance go live today. While the changes have been put in place to cool an overly aggressive housing market and curtail Canadians’ debt to income ratio levels, it’s the short term implications that have everyone from first time home buyers to brokers wondering – what’s it going to cost?