Canada

Canada’s National Housing Agency Tightens Lending Ahead of Forecasted Price Declines

Canada’s national housing agency isn’t just forecasting price declines, they’re preparing for them. Canada Mortgage and Housing Corporation (CMHC) announced changes to its mortgage insurance. Homebuyers with less than 20% down should now expect lower debt service maximums, a more stringent credit quality check, and a ban on borrowing down payments. If those sound like […]

Canada

Canada’s National Housing Agency Thinks Toronto Is No Longer Overvalued

What housing affordability crisis? The latest Canada Mortgage and Housing Corporation (CMHC) Housing Market Assessment shows real estate is at a “moderate” level of risk. The ratings, were largely unchanged, but did include one surprise. Toronto and Hamilton, previously at high vulnerability, received downgrades to their risk. Generally, more risk is seen in real estate […]