OTTAWA – Some Canadians may have a harder time insuring their mortgages from June forward, as the Canada Mortgage and Housing Corporation (CMHC) is moving to discontinue two of its longstanding mortgage insurance access programs. Effective May 30th, the Second Home and Self-Employed Without 3rd Party Income Validation mortgage insurance programs will no longer be […]
CMHC, Genworth Canada Announce Premium Increases for Mortgage Insurance
OTTAWA – Canadian homebuyers looking to insure their mortgage through the Canadian Mortgage and Housing Corporation (CMHC) will be facing slightly higher insurance costs if they plan to buy after May 1, 2014. On February 28th, the lender announced that it would be hiking its standard premiums from a current range between 0.5 and 2.9 […]
CMHC sheds new light on Canadian condo ownership
TORONTO – When looking at condominium communities in Toronto and other major Canadian real estate markets – especially high-rise towers – it’s natural to wonder how many units are rented out by investors, and how many are lived in by their owners. Thanks to a special “Feature on Condominiums” in the Canadian Mortgage and Housing […]
2013 in Review: Looking Back at a Year of GTA Real Estate News
MARKHAM – While Greater Toronto gets excited for New Year’s Eve and the start of 2014, here at Living Realty we are also thrilled to celebrate a special one-year milestone for GTA Real Estate News. When we publicly launched this web site in January 2013, we had two simple goals. The first was to keep […]
Market Update: CMHC Introduces Tighter Mortgage Lending Limits for August 2013
TORONTO – For the fourth time in five years, Canadian banks’ leashes have been pulled a little bit tighter when it comes to mortgage financing. As reported by Reuters’ Andrea Hopkins, earlier this month the federal government made a cautious move to restrict the dollar value of mortgages insured by the Canada Mortgage and Housing […]
CMHC Predicts “Modest Growth” for Ontario Housing Market in 2014
GTA REAL ESTATE MARKET – The Canadian Mortgage and Housing Cooperation (CMHC)’s Housing Market Outlook for the first quarter of 2013 featured some predictions for the Canadian real estate market, including the market right here in Ontario. CMHC predicts that over the next two years, Ontario will experience employment growth mirroring that in the US […]