Some interesting statistics about Canada’s economic performance in 2015 and some interpretations of the information
The GoC announced new mortgage financing rules on December 11, 2015 which will affect home purchasers. Effective on February 15, 2016, the minimum down payment limits will change as displayed in the following table:
Canada Guaranty Mortgage Insurance Company, Canada Mortgage and Housing Corporation and Genworth Financial Mortgage Insurance Company Canada will increase the mortgage default insurance premiums that they charge, effective June 1, 2015.
Canada’s Office of the Superintendent of Financial Institutions (“OSFI”) has mandated all federally-regulated mortgage default insurers financial to adopt certain minimum benchmarks for residential mortgage... Read More