Should The Federal Government Act On Uninsured Mortgages?
When we talk about mortgages or mortgage insurance, we usually only ever talk about insured mortgages, since those are the ones covered by by CMHC, and we the tax-payers are on the hook for these loans. Most of the changes to...
Monday Morning Quarterback: Mortgage Break Fees & “Fairness”
A story came out last Friday about an Edmonton couple who was "devastated" to find out that they owed TD Bank $17,000 in mortgage break fees. I was going to play devil's advocate and point out the illogical nature of...
Will The New Mortgage Rules Really Have An Affect On The Market?
Or is it simply a slow news day? Monday marked the first day that buyers will have to make a minimum down payment of up to 10% on the price of houses over $500,000, but as those of us who...
Should CMHC Reintroduce The “Regional Mortgage Cap?”
More likely than not, your answer here will depend on where you live. But if you're not aware of what a "regional mortgage cap" is, or was, consider that until 2003, the Canada Mortgage Housing Corporation (CMHC) had different maximum...
What If CMHC Lowered The Mortgage Insurance Ceiling?
We all know that CMHC does not insure mortgages of over $1,000,000, and for a couple of years now, we've been working in a market where you must make a minimum downpayment of 20%. But a colleague and I had...
What Do You Want In A Mortgage?
Yesterday, we talked about last week's announcement that BMO is offering a new 2.99%, five-year, fixed-rate mortgage, and a reader asked, "What options would people want in their mortgage the most?" Great question! But is this a question that people...
Monday Morning Quarterback: Ready, Set, Rate War!
"War. Aaah. Huh. What is......it good for?" (absolutely nothing) Unless, of course, you're a buyer in today's Toronto real estate market. Surely you noticed that the 5-year, fixed-rate dropped to 2.99% last week via several financial institutions. But before you get...
Monday Morning Quarterback: CMHC Raises Insurance Rates
Is Jim Flaherty on a mission? Or is he just an attention-seeker? Every time we open the newspaper and see the letters "CMHC," it's usually followed by a story about Jim Flahtery, on some sort of mission to cool the...
“Four Changes CMHC Needs To Make To Rein In Its Mortgage Market Influence”
We had this discussion back in mid-November, when we debated actions that CMHC can take to "cool the market," as well as whether or not it should be their job to do so in the first place! Noted Canadian economist, Ben...
“Could CMHC Disappear Over Time?”
We were just talking about this very subject two weeks ago, and as if on cue, the Financial Post gives us a fantastic article! One of the largest complaints I hear about the mortgage industry from financially-responsible, somewhat better-off Canadians,...
Should Government Take Steps To Cool The Housing Market?
It's a simple question; in theory, at least. And your answer cannot possibly be unbiased, and influenced by whether or not you own property, where you live, and a host of other variables. I'd like to get a well-thought-out discussion...
Why You Can’t Be Successful In Multiple Offers With A ‘Conditional’ Offer
Feel free to argue if you want, but I'm the one doing deals every day - on the buy side and the sell side, telling you that this is the case. You simply can NOT "win" in multiple offers when...
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