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]

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]