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Tag Archives: CMHC
For the past few years, we’ve all been talking about the changes to amortization periods and how that affects housing affordability. Now, CMHC has issued new guidelines for calculating debt service ratios. Stricter Debt Ratio Standards on the Way.
Whether that insurance is offered by CMHC,
In another mandate by the OFSI federally regulated lenders will eliminate Cashback Down Payments. Lenders, such as credit unions, who are provincially, not federally, regulated may still approve these mortgages. However, CMHC spokesperson Charles Sauriol stated “CMHC supports the implementation … Continue reading
Another awesome article from the folks at canadianmortgagetrends.com. Here are their 20 observations of the New Mortgage Rules.
CMHC is pulling back the reins on numerous products, especially rental, self-empoyed / stated income mortgages. This is partly due to OSFI’s guidelines, and partly due to CMHC’s $600B insurance limit. As of September 30, 2011, CHMC disclosed that it … Continue reading
New Housing starts in June are up 100% compared to June 2010.
CMHC Survey Shows Homebuyers Taking the Time to Plan. Results also showed that Canadians take, on average, 11 months to plan their purchase while the majority of homebuyers (88%) indicated they had a good sense of how much mortgage they … Continue reading
The summer vacation season brings joy to many people, but for some, the longing for a year-round second home brings a touch of melancholy. If you are one of those people who would love to own a place for weekend … Continue reading
Investopedia offers 5 Reasons To Save For A Big Mortgage Down Payment.