Tag: mortgage insurance
In October and November this year the Government of Canada made changes to mortgage insurance requirements. Mortgage insurance is provided by three companies in Canada. The biggest provider of mortgage insurance is CMHC a crown corporation. This insurance is paid for by the borrower and protects the lender in case of default. It reduces the …
An interview Flaherty gave to The Globe and Mail sparked debate when it was reported that the finance minister wants to privatize the Canadian Mortgage and Housing Corporation (CMHC).
Fewer than four in 10 buyers can afford a 20 percent down payment, according to the Canadian Association of Accredited Mortgage Professionals.
Further changes may be in store for the Canadian Mortgage and Housing Corporation. Finance Minister Jim Flaherty announced his plans to reporters in New York recently.
The new federal budget from Ottawa contains a mixed bag of mortgage news. Consumers will see little change in the way they secure and pay for mortgages, but some banks and lenders may have adjustments to make in the way they do business.
The Canadian Mortgage and Housing Corporation has indicated it will lessen its involvement in the housing market over the next few years as it approaches a federally mandated mortgage insurance limit.
As low mortgage rates and high personal debt converge in Canada, financial regulators are looking for ways to head off a housing bubble that could send the country into an American-style recession.
Genworth MI Canada, the nation’s second largest mortgage insurer, recently announced plans to take advantage of government constraints on the Canada Mortgage and Housing Corporation, its Crown corporation rival.