According to a new MPC report, the new mortgage stress test is leaving 18% of home buyers out of the market, though most can still afford to make monthly payments…
Planning to buy a home? The cost of buying a home is always more than the purchase price and a moving truck rental. First-time home buyers are often shocked when they hear about closing costs such as…
Effective Jan. 2018, all Canadians applying for a new mortgage will be subject to a stricter stress test to assess if they could still make mortgage payments in the event interest rates rise. The new guidelines will reduce how much you can afford…
Applying for a mortgage? Already own a home? The federal Liberals have announced mortgage changes that will have an impact on homebuyers and homeowners. Read on to find out what these are and how they will affect you.
Could you pay your mortgage after a job loss? A recent survey found 4 in 10 Canadians won’t be able to. Here’s how to protect your ability to pay in a worst-case scenario.
Buying real estate is becoming increasingly tougher for the average Canadian. What can first time and repeat buyers do to increase their chances of homeownership? Get the full story and this week’s top housing headlines.
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.
CMHC and Genworth have announced they are increasing their insurance premiums for mortgage borrowers paying less than 10% down on their home purchases by 15%. How will this affect your ability to buy? Read on to learn more.