CMHC released its 2009 canadian housing observer yesterday. Most of its findings are dated back to year-end 2008, but it contains some interesting tidbits nonetheless. One key takeaway is the massive importance of Canada’s real estate industry. It’s a point that can’t be overemphasized–with housing-related spending accounting for 1/5 of our economy.
**2019 Mortgage Rules Update – 2019 Federal Budget** There have been several changes to the mortgage rules in Canada over the last 3 years. The most recent and future changes popped up in the just-proposed 2019 federal budget i.e. the First time home buyer incentive which is aimed at helping first-time homebuyers afford a home in Canada’s ‘hot’ real estate market.
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The mortgage stress test – what you need to know. On October 3, 2016, Canada’s finance minister announced the latest round of mortgage rule tightening: a more stringent mortgage stress test for borrowers looking to get a new mortgage.
The recent changes to mortgage rules announced by Finance Minister Bill Morneau will ultimately buttress Canada’s economic output despite some uncomfortable speed bumps in the near future, according to the leader of the country’s federal housing agency. In a contribution piece for The Globe and.
politics Home loan arrears on the rise as high debt and low wage growth bite. Problem home loans are now at their highest level since the aftermath of the global financial crisis, according to the credit ratings agency standard and Poor’s Global.. "Tepid wage growth, high household debt.
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Vancouver has seen overall affordability weaken amid rising prices in the sub-$1m market, coupled with increasing mortgage costs. CMHC says the city’s housing market is highly vulnerable. Victoria has little evidence of overbuilding despite an upward trend of completed and unsold units.
Canada Mortgage and Housing Corporation (CMHC) is with Prince Edward Island Government and Charlottetown – Great Things Happen Here. July 29 at 9:59 AM Martha Place, in Charlottetown, PEI, will soon give people looking for affordable housing a safe place to call home.
If you thought Parliament’s hearings on the new mortgage rules was boring, you missed last week’s exchange between MP Ron Liepert and CMHC head, Evan Siddall. This 4-minute video captures the tension. Never, to our recollection, has there been such animosity towards the regulatory 3-Amigos.