It looks like the OSFI (Office of the Superintendant of Financial Institutions) may soon be regulating CMHC, as it is becoming a larger financial corporation that the government predicted. Recently the OSFI had proposed regulations that would see numerous adjustments, from small tweaks to big underwriting changes – and not just for CMHC. The full report [...]

The Canadian mortgage industry has long been lauded for its stable lending criteria and ability to hold the fort during the worldwide recession. Through the wonderful blue sky of 3.29% 5 year fixed money however, is a storm of international and national constraints that may cause a slowdown in mortgage and housing markets. We have all heard [...]

With the mainstream financial media now sounding a shrill alarm about the Canadian housing bubble, is it time to sell the house? Unless you’re transferring to a new job, or a retiree wanting to downsize or move to more favourable climes, you’re probably better off staying put rather than capitulating to the panic of articles [...]

After surprising growth in 2011, Greater Vancouver real estate prices will rise just two per cent in 2012, Canada Mortgage and Housing is forecasting. In 2011, CHMC predicted price growth of just three per cent, tempered by an expectation of higher interest rates, but interest rates stayed low and prices ultimately jumped 16 to 17 [...]

Five per cent down for second home: How? Q: My friend just bought a rental property and she said she bought it with only five per cent down. I thought that CMHC changed its guidelines earlier this year so that you need a 20-per-cent down payment minimum. How is this possible? A: A fine distinction: [...]