CMHC shifts gears amid falling demand for insured mortgages

The government has been walking a tightrope between maintaining economic growth and cracking down on a potential housing bubble, amid weakening exports and sluggish consumer demand. mostly.

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CMHC mortgage insurance is purchased to compensate the lender in the event that you default on your loan. Since it is the lender that is putting up the capital for your home purchase, the lender takes on the bulk of the risk of you don’t follow through.

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Apps like Uber and DriveNow may be hurting the demand for new cars, studies suggest; The UK car business has ‘exactly the same problems’ as the mortgage market 10 years ago, according to Morgan.

 · All levels of government share the responsibility. The underwriting practices of federal agencies that insured mortgages introduced redlining, that is, the refusal to lend to buyers in certain neighborhoods, which virtually destroyed central-city housing markets, froze blacks out of mortgages, and encouraged white flight to suburbs.

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CMHC CEO defends mortgage stress test changes amid calls for loosening rules. Corporation is forcefully defending mortgage stress test rules and warning federal policy-makers to hold the line amid calls for softening the measure from industry associations.. It first applied to insured.

CMHC: Insured mortgage market falls 33% after new regulations The Canadian Press OTTAWA — Canada’s national housing agency says new regulations introduced last fall decreased the size of the country’s insured mortgage market by about 33 per cent year-over-year in the second quarter.

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Meanwhile, the demand for new mortgage loans was sluggish with the number of loans opened in the last quarter of 2017 falling by 7.7 per cent from the year before to reach 234,000.