Mortgages has become harder to obtain – how to find alternatives to the rules It’s a lot harder to get the feds to back your mortgage than it was a few months ago. Effective July 1st, 2020, the Canada Mortgage and Housing Corporation (CMHC) has reduced borrowing limits, demanded higher credit scores, […]
CMHC
CMHC tightens lending standards to protect housing market during COVID-19
CMHC tightens lending standards to protect housing market during COVID-19 Canadians looking to borrow money for a home purchase a home in for some extra challenges after the Canada Mortgage and Housing Corporation announced changes to its lending standards on Thursday. The country’s national housing agency is increasing the qualifying credit score for […]
Housing in Canada overheating but don’t expect a breakdown, a new report
In toronto real estate, forget all the housing crash talk says a new report that recommends prices acceleration in Canada’s housing market will slow down without any hard landing. Moody’s Analytics, which employed the Brookfield RPS house price index for its modelings, maintains that prices in Canada will slow down as some markets, especially […]
CMHC elevates red flag about housing, warns of Toronto, Vancouver price spillover
In toronto real estate, the head of the federal housing agency is raising a red flag about the government of Canada’s real estate sector, saying affordability fears have spilled over from the country’s two most expensive cities to nearby markets. In an opinion piece written Monday in the Globe and Mail, CMHC CEO Evan […]
Bank costs will increase with end of Canada’s ‘unique’ mortgage system
In toronto real estate, the days when Canada’s banks could offload much of the risk of underwriting mortgages onto taxpayers may be drawing to a close. Canadian Finance Minister Bill Morneau disclosed plans Monday to begin consultations on sharing the risk of mortgage default with the country’s lenders. The move was part of a […]
