Could CMHC change its ‘one-size fits all’ mortgage insurance to reflect real risk? – Ask a Vancouver Mortgage Broker

Buy a house with less than a 20% down payment and you have to get mortgage default insurance. There’s no choice. The rules are dictated by Ottawa and protect the banks, in the event you default. Why the mortgage rate wars can rage more freely Why did Bank of Montreal risk a (verbal) slap from […]

CMHC’s move to hike mortgage insurance premiums prompts competitors to follow – Ask a Vancouver Mortgage Broker

The cost of mortgage default insurance is about to go up for most consumers after competitors moved quickly to follow Canada Mortgage and Housing Corp.’s decision to raise premiums. In Canada’s housing market here’s what $500 K buys: A lake in Edmonton … a condo in Toronto The Canadian Real Estate Association has predicted that […]

CMHC offering tailored outlooks for various Canadian markets – Mortgage Broker, Vancouver

Canada Mortgage and Housing Corporation (CMHC) is offering a number of housing outlook conferences in various Canadian cities; each offering a useful and practical information session that will help brokers understand trends unique to each market. “CMHC’s Housing Outlook Conferences offer access to timely, reliable and unbiased information,” Sam Carnovale, CMHC Key Account Manager, Brokers […]

A clear mortgage policy- Consult with a Vancouver Mortgage Broker

Jim Murphy, Special to Financial Post The Canadian housing and mortgage markets receive extensive attention by economists, analysts and the media. The purchase of a home after all is the largest financial commitment that an individual will make in his or her lifetime. Since 2008 and the height of the financial crisis, the federal government […]

Stricter Debt Ratio Standards on the Way – Consult with a Vancouver Mortgage Broker

Stricter Debt Ratio Standards on the Way By Rob McLister, Editor, CanadianMortgageTrends.com If you’re a typical borrower, yourdebt ratios will largely determine if you’re approved for a mortgage. For applicants who push the limits of qualification, those approvals have been tougher to come by. That’s a direct result of last year’s mortgage rule tightening, which imposed stricter debt […]

Taxpayer-free housing finance change coming to Canada – Ask a Vancouver Mortgage Broker

Finn Poschmann, Special to Financial Post  The Bank of Nova Scotia, a few days ago, received permission from the Securities and Exchange Commission to market to U.S. retail investors what are known as covered bonds. In pursuing SEC approval for market access, Scotia was following a trail blazed by the Royal Bank of Canada; market […]

Vancouver Mortgage Information for Newbies (Part 1) – From your Friendly Vancouver Mortgage Broker

Vancouver Mortgage Information for Newbies (Part 1) – From your Friendly Vancouver Mortgage Broker Many first time homebuyers can be a little bewildered by both the terminology and the types of mortgages available. This Vancouver mortgage broker can appreciate how daunting this process can be for you. To help you along, we’ve drawn up a […]

How an obscure budget change could raise mortgage rates- Ask a Vancouver Mortgage Broker

ROBERT MCLISTER – Special to The Globe and Mail The acronym “ABCP” doesn’t come to mind when people go mortgage shopping. But if you get a new mortgage in the next few years, it could very well affect your interest rate. ABCP stands for asset backed commercial paper. It’s used by a handful of non-bank lenders to […]

More on the New Bulk Insurance Restrictions- Consult with a Vancouver Mortgage Broker

More on the New Bulk Insurance Restrictions Last week’s federal budget included few mortgage changes. One exception was a new proposal to restrict the use of default insurance on low-ratiomortgages (i.e., those with 20% or more equity). The Department of Finance says it will gradually prohibit lenders from bulk insuring low-ratio mortgages unless those mortgages are part of a CMHC-backedsecuritization program. In addition, the government […]

Why TD’s Ed Clark says Canada isn’t heading for a U.S.-style housing bust – Adil Virani Vancouver Mortgage Broker

Toronto-Dominion Bank has just come off one of its most profitable years ever. Its shares have nearly regained the ground they lost in the financial crisis and the country’s second-biggest bank is riding high on the Canadian consumer’s apparently insatiable appetite for debt. But how much longer can it go on? TD chief executive Ed […]

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