Canada’s housing market overheated, highly vulnerable – CMHC The federal agency has issued its highest risk rating for the country’s housing sector A potent combination of factors including home price growth acceleration continued overvaluation, and stagnant labour incomes has introduced a high degree of vulnerability in the Canadian housing market, according to Canada Mortgage and [&hellip…
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CMHC changes underwriting practices on mortgage loan insurance Canada Mortgage and Housing Corp. is easing its underwriting criteria for mortgage loan insurance after changes it made last year were not effective and caused it to lose market share. The federal housing agency said Monday that it returned to considering a gross debt service ratio of up to 39% and [&hellip…
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Homebuyers Shun CMHC’s First-Time Home Buyer Incentive The federal government’s First-Time Home Buyer Incentive (FTHBI) was meant to offer a path to homeownership for those unable to tap the “Bank of Mom and Dad” for down payment assistance. But first-time buyers have largely rejected the equity-sharing program that was first unveiled in September 2019, according to data [&hellip…
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