Home sales and prices on the rise in Calgary

Home sales and prices on the rise in Calgary

Last week, Canada Mortgage and Housing Corp released a report stating that Calgary home sales and home prices will continue to rise this year and into next year, fuelled in part by migration to the city and a falling unemployment rate. Last year, over 45,000 people...
The mortgage industry is changing, but it’s strong

The mortgage industry is changing, but it’s strong

Bloomberg Nanos Research recently published a paper stating that “Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.” The Bank of Canada recently reported that it...
CMHC axed stated income and second home programs

CMHC axed stated income and second home programs

Along with the premium rates we discussed last week, CMHC announced last month coverage changes to its mortgage insurance program. Effective at the end of this month, CMHC will no longer insure stated income mortgages or second home mortgages. What’s affected? Stated...
3 questions about CMHC’s mortgage insurance premium increase

3 questions about CMHC’s mortgage insurance premium increase

Last week, CMHC’s recently announced mortgage loan insurance premium increase went into effect. Who will these changes affect? The increase affects three main groups of mortgages: Owner-occupied properties Self-employed property owners Rental properties of 1–4 units...