MP to Canadians: Government punishing people for refinances

Wednesday Feb 22nd, 2017


The most recent mortgage rule changes inadvertently punished a massive chunk of would-be homebuyers, and the government has seemed tone deaf in understanding those implications. But it seems buyers – and, indeed, the housing industry – has one government official on their team. “As a member of the finance committee, one of the duties we perform is to hear from expert witnesses and industry stakeholders on how newly announced or changed finance regulations can impact... [read more]

Mortgage Insurance Premiums On The Rise

Thursday Jan 26th, 2017


CMHC announced early Tuesday it is increasing its loan insurance premiums effective March 17 2017. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.” According to the Crown Corporation, the average homebuyer will see a $5... [read more]