Thanks, Mom: Over $10 billion gifted to home buyers over last year

Wednesday Nov 3rd, 2021

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  MARKET NEWS: Michelle McNally Oct 25, 2021 Photo: James Bombales Amidst rising prices and dwindling inventory, it’s no secret that buying a home in Canada has become increasingly difficult, particularly for first-time buyers looking to get their foot on the property ladder. Hoping to help their loved ones set down roots in a home of their own, parents and family members have been known to contribute to the sizable down payment required for a property... [read more]

CMHC Reverses Changes Made to Mortgage Underwriting Practices

Friday Jul 16th, 2021

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The COVID-19 pandemic caught the world by storm last year, and markets across the globe had to adjust. As a result, the housing market in Ontario experienced some major fluctuations and instability. In response to this economic uncertainty driven by unforeseen circumstances, the Canada Mortgage and Housing Corporation (CMHC) implemented temporary changes to its underwriting practices for mortgage loan insurance. The CMHC develops policy and guidelines in relation to mortgage financing in... [read more]

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