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 […]
The head of Canada’s national housing agency rang off yet another warning to homebuyers. Evan Siddall, the head of the Canada Mortgage and Housing Corporation (CMHC), warned people to question the motives of anyone that says home prices will rise in the near-term. He does so before rattling off a list of economic pressures against […]
Canadians are suddenly short on cash for their jumbo sized mortgages. Canada Mortgage and Housing Corporation (CMHC), the country’s national housing agency, estimates over a tenth of insured mortgages are now on payment deferrals. The agency also added they expect the ratio of deferrals to nearly double over the next few months. Quebec Has The […]
Canada’s national housing agency wants to remind people there’s a limit to what they can do. Evan Siddall, CEO of the Canada Mortgage and Housing Corporation (CMHC) updated Canada’s standing committee on finance. In the update, he explained how the CMHC is using tens of billions in capital to support real estate markets. Even so, […]
Vancouver’s population growth is still booming, but the rental vacancy rate is climbing. Canada Mortgage and Housing Corporation (CMHC) data shows primary rentals saw vacancies increase in 2019. The rate of vacancy is now at the highest level since 2013, but it has a long way to go to clear that number. Vancouver Rental Vacancies […]
Toronto’s population growth is booming, but so are rental vacancies. Canada Mortgage and Housing Corporation (CMHC) data shows primary rental vacancies climbed in 2019. The rate is now at the highest level since 2015, as vacancies climb from decade lows just a couple years ago. Toronto’s Vacancy Rate Rises To Highest Level Since 2015 Toronto’s […]
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 […]
Canadian real estate owners with large mortgages are falling behind on payments. Canada Mortgage and Housing Corporation (CMHC) data shows a climbing delinquency rate on large mortgages in Q1 2019. The rate remains relatively low, but does show the trend is reversing, and the market peak is behind us. What Are You Looking At? Today […]
Canadian real estate owners are turning to private lenders, which may not be great news. Canada Mortgage and Housing Corporation (CMHC) gave households an update on lender data from 2018. The overall rate of delinquency remains low. However, increasingly popular private lenders are seeing delinquency rates 8x higher than typical. Canadian Mortgage Lenders Canadian mortgage […]
Canadian borrowers seeking the most leverage are tapping out of the market. Bank of Canada (BoC) numbers show the balance of insured mortgage debt made a huge drop in January. Here’s everything we know about the remaining balance. What Are Insured Mortgages? An insured mortgage is one where the lender is protected against borrower default. […]
