Money and Homes

March 15, 2017

Insurance Rates Going Up

Mortgage Insurance Premiums are on the Rise Effective March 17, The mortgage default insurers (CMHC, Genworth, Canada Guarantee) are going to be increasing mortgage insurance premiums. This rate change is in conncetion with OSFI’s new captial requirements that started on January 1st requiring mortgage insurers to hold additional capital. This will help the long term […]

Money and Homes
December 14, 2015

HIGHER DOWN PAYMENTS for More Expensive Homes!

What is this policy? ~ This policy increases the minimum down payment from 5 per cent to 10 per cent on the portion of the house price above $500,000. This policy does not change the 5 per cent minimum down payment for properties up to $500,000. According to our lending sources ~ Qualified borrowers who […]

Money and Homes