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by Jeremy
Starting tomorrow, homebuyers without a 20% down payment, will be paying more to purchase a home. Canada’s largest mortgage insurer, CMHC, is hiking its premiums from 0.10 to 0.40 percentage points. The increase takes effect May 1, 2014, and will be the first increase from CMHC since 1998. The average CMHC insured mortgage at 95% loan-to-value was $248,000 in 2013. CMHC says this will raise that homeowner’s monthly payments by about $5. Not too agonizing. [Canadian Mortgage Trends] When the numbers are broken down (as above), it’s not the end of the world and homeownership is not out of reach. However, many investors are still…
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Posted by Jeremy
I’ve had a ton of calls this week looking for clarification on CMHC’s announcement. Here it is. CMHC…
Posted by Jeremy
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Posted by Jeremy
The latest security breaches to government websites due to the heartbleed bug, should be good reminder for you…
Posted by Jeremy
A recent survey released by BMO Bank of Montreal, showed that the youngest first-time homebuyers in Canada are…
Posted by Jeremy
According to a new study released by Scotiabank, 37% of mortgage holders in Canada are less than 10…
