Privatizing CMHC?
The Canada Mortgage and Housing Corporation (CMHC) has been under fire for some time now. Ever since the housing market has inflated beyond control in Canada, everyone is trying to come up with a solution to the problem. And most solutions have got something to do with CMHC. This week, perhaps the most serious remarks…
Read moreIs the Housing Market Turning Canadians into Anarchists?
There are more than a few people in Canada who don’t agree with the changes being made to mortgages in Ottawa; but perhaps none are as loud as the Canadian Mortgage Trends. This site, one much like this but with many glaring differences, has spoken out about the government’s new rules ever since they started…
Read moreHow a Shorter Amortization can Save you Big
We all know that there are many different ways you can save money on your Toronto mortgage. You can pay a lump sum when you have extra cash, be careful with home equity loans, and you can be very careful in selecting the product with the lowest interest rate. But another way to save on…
Read moreAnother Look at Privatizing CMHC
When the former Chairman of CMHC, Dino Chiesa, said in an interview last week that government officials were ready to exit the mortgage business, a bit of a stir was raised. While Chiesa didn’t say that CMHC had actually been for sale, he did hint at the fact that it was an option, and that…
Read moreShould Minimum Down Payments be Raised to 7%?
The Canadian housing market, and the Canadian mortgage market, is a problem that just about all economists and analysts in Canada have been trying to fix. Homes are overvalued, there are too many of them on the market, and we’re consuming and borrowing at a much faster clip than the federal government would like. All…
Read moreWhat’s Going to Happen to Interest Rates? Or to Us?
The overnight lending rate in Canada is a funny thing. It seems so predictable at times, such as just a few weeks ago, when all looked rosy on the global economic horizon and it was predicted that because of that, BoC Governor Mark Carney would most likely raise interest rates as early as September. But…
Read moreChoosing Between a Short and Long Term Mortgage
When it’s time to purchase a home, one of the things buyers concern themselves with the most is the interest rate they’ll be paying. The concern is legitimate, as it will largely determine how much you ultimately pay for your Canada and Ottawa mortgage. But what’s of equal concern is the term you choose. The…
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