The government made a pledge in the federal budget that brokers can’t afford to gloss over, cautions one industry vet, worried about the possibility of higher mortgage rates.
A reference to bulk insurance – and so access to conventional mortgages – was part of the 528-page federal budget tabled Tuesday.
One broker believes clients now putting less than 10 per cent down will be more overleveraged than those who purchased with zero down.
A Genworth report highlighting the financial responsibility of first-time buyers appears to contradict the insurer’s move to increase costs for those buyers.
First-time buyers are increasingly getting help from parents to be able to buy a home.
An average $5-a-month hike to mortgage insurance premiums may seem inconsequential, but brokers believe the effect on homebuyer equity will prove disastrous.
Canada’s largest private mortgage insurer says it is matching CMHC’s increase in premiums for the highest risk loans.
One private insurer has quickly followed CMHC’s lead and upped its rates
In a comprehensive study of condo markets across Canada, Genworth and the Conference Board of Canada are predicting a soft landing in most cities, with some expected to see more significant price drops.
Canada’s largest private mortgage insurer is exercising “heightened vigilance” in Western Canada in preparation for a potential rise in delinquencies.