{"id":1009,"date":"2017-08-31T15:50:15","date_gmt":"2017-08-31T15:50:15","guid":{"rendered":"https:\/\/mymortgagepros.com\/?p=1009"},"modified":"2024-02-08T05:46:07","modified_gmt":"2024-02-08T05:46:07","slug":"cmhc-new-rules-mortgages","status":"publish","type":"post","link":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/","title":{"rendered":"CMHC new rules on mortgages"},"content":{"rendered":"<p>National Post has run this just the other day, by Garry Marr. Important to see all angle the Canadian Market.<\/p>\n<p>Canada Mortgage and Housing Corp., the crown corporation that is the largest mortgage default insurer in the country, is paying Ottawa a $240 million dividend.<\/p>\n<p>Despite the payment, CMHC said Tuesday federal regulatory changes brought into the market in the fourth quarter of 2016 decreased the size of the insured mortgage market. During the second quarter, the Crown corporation provided mortgage loan insurance for almost 79,000 units across the country. On a year-to-date basis, almost 125,000 units have been insured.<\/p>\n<p>\u201cVolumes decreased largely as a result of the new regulations,\u201d said CMHC, referring to new income tests that have forced consumers with less than a 20 per cent down payment to qualify based on the Bank of Canada five-year posted rate, now 4.84 per cent, as opposed to the lower rate on their contract.<\/p>\n<ul>\n<li><a href=\"http:\/\/business.financialpost.com\/real-estate\/cmhc-keeps-red-flag-hoisted-on-housing-market-as-new-problems-emerge\">CMHC keeps red flag hoisted on housing as new problems emerge<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/pmn\/business-pmn\/home-construction-picks-up-in-july-driven-by-buildings-condos-cmhc-says\">Home construction picks up, driven by buildings, condos, CMHC says<\/a><\/li>\n<\/ul>\n<p>Under federal rules, consumers with less than 20 per cent down must get mortgage default insurance which protects banks in the event of default. CMHC is the largest player in the sector followed by private entities Genworth Canada and Canada Guaranty.<\/p>\n<p>CMHC said it continues to see an improvement in the quality of its mortgage loan insurance portfolio, which was 0.29 per cent overall in the second quarter. It said during the first half of 2017, the typical CHMC-insured homebuyer an average mortgage of $255,014 with an average credit score of 752.<\/p>\n<p>The average gross debt service (GDS) and total debt service (TDS) ratios were 26.7 per cent and 36.5 per cent respectively. As of June 30, 2017, CMHC\u2019s total insurance-in-force was $496 billion \u2013 below its legislated insurance-in-force limit of $600 billion.<\/p>\n<p>Net income (after taxes) for the second quarter was $397 million and, based on the continued strength in the sector, the decision was made by CMHC\u2019s board to issue the $240 million dividend payable to its shareholder, the government of Canada.<\/p>\n<p><a href=\"http:\/\/www.mymortgage.pro\/\">Educate yourself <\/a>with us than get a <a href=\"https:\/\/mymortgagepros.com\/mortgage-consultation\/\">free consultation<\/a> set up, before you are going to talk to the banks <a href=\"https:\/\/mymortgagepros.com\/mortgage-brokers-calgary\/\">or hire us!<\/a>\u00a0 We are very good at <a href=\"https:\/\/mymortgagepros.com\/testimonial\/\">saving you a lot<\/a> on your mortgage.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Post has run this just the other day, by Garry Marr. Important to see all angle the Canadian Market. Canada Mortgage and Housing Corp., the crown corporation that is the largest mortgage default insurer &#8230; <a href=\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":1010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[1],"tags":[34,14,22,32,13,7,25,33],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CMHC new rules on mortgages - My Mortgage PRO - Calgary<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CMHC new rules on mortgages - My Mortgage PRO - Calgary\" \/>\n<meta property=\"og:description\" content=\"National Post has run this just the other day, by Garry Marr. Important to see all angle the Canadian Market. Canada Mortgage and Housing Corp., the crown corporation that is the largest mortgage default insurer ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/\" \/>\n<meta property=\"og:site_name\" content=\"My Mortgage PRO - Calgary\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-31T15:50:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-08T05:46:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mymortgagepros.com\/wp-content\/uploads\/2017\/08\/mymortgagepros.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"672\" \/>\n\t<meta property=\"og:image:height\" content=\"368\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zoltan Padar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zoltan Padar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/\",\"url\":\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/\",\"name\":\"CMHC new rules on mortgages - My Mortgage PRO - Calgary\",\"isPartOf\":{\"@id\":\"https:\/\/mymortgagepros.com\/#website\"},\"datePublished\":\"2017-08-31T15:50:15+00:00\",\"dateModified\":\"2024-02-08T05:46:07+00:00\",\"author\":{\"@id\":\"https:\/\/mymortgagepros.com\/#\/schema\/person\/3d33f004ed81f9102789c46d0a84c07c\"},\"breadcrumb\":{\"@id\":\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mymortgagepros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CMHC new rules on mortgages\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mymortgagepros.com\/#website\",\"url\":\"https:\/\/mymortgagepros.com\/\",\"name\":\"My Mortgage PRO - Calgary\",\"description\":\"Best Mortgage Broker in Calgary\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mymortgagepros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/mymortgagepros.com\/#\/schema\/person\/3d33f004ed81f9102789c46d0a84c07c\",\"name\":\"Zoltan Padar\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mymortgagepros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3123172e3e5953e7ec278c3dd7654966?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3123172e3e5953e7ec278c3dd7654966?s=96&d=mm&r=g\",\"caption\":\"Zoltan Padar\"},\"url\":\"https:\/\/mymortgagepros.com\/author\/zoltanp\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CMHC new rules on mortgages - My Mortgage PRO - Calgary","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/","og_locale":"en_US","og_type":"article","og_title":"CMHC new rules on mortgages - My Mortgage PRO - Calgary","og_description":"National Post has run this just the other day, by Garry Marr. Important to see all angle the Canadian Market. Canada Mortgage and Housing Corp., the crown corporation that is the largest mortgage default insurer ... Read More","og_url":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/","og_site_name":"My Mortgage PRO - Calgary","article_published_time":"2017-08-31T15:50:15+00:00","article_modified_time":"2024-02-08T05:46:07+00:00","og_image":[{"width":672,"height":368,"url":"https:\/\/mymortgagepros.com\/wp-content\/uploads\/2017\/08\/mymortgagepros.jpg","type":"image\/jpeg"}],"author":"Zoltan Padar","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Zoltan Padar","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/","url":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/","name":"CMHC new rules on mortgages - My Mortgage PRO - Calgary","isPartOf":{"@id":"https:\/\/mymortgagepros.com\/#website"},"datePublished":"2017-08-31T15:50:15+00:00","dateModified":"2024-02-08T05:46:07+00:00","author":{"@id":"https:\/\/mymortgagepros.com\/#\/schema\/person\/3d33f004ed81f9102789c46d0a84c07c"},"breadcrumb":{"@id":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mymortgagepros.com\/cmhc-new-rules-mortgages\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mymortgagepros.com\/"},{"@type":"ListItem","position":2,"name":"CMHC new rules on mortgages"}]},{"@type":"WebSite","@id":"https:\/\/mymortgagepros.com\/#website","url":"https:\/\/mymortgagepros.com\/","name":"My Mortgage PRO - Calgary","description":"Best Mortgage Broker in Calgary","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mymortgagepros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/mymortgagepros.com\/#\/schema\/person\/3d33f004ed81f9102789c46d0a84c07c","name":"Zoltan Padar","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mymortgagepros.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3123172e3e5953e7ec278c3dd7654966?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3123172e3e5953e7ec278c3dd7654966?s=96&d=mm&r=g","caption":"Zoltan Padar"},"url":"https:\/\/mymortgagepros.com\/author\/zoltanp\/"}]}},"_links":{"self":[{"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/posts\/1009"}],"collection":[{"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/comments?post=1009"}],"version-history":[{"count":1,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/posts\/1009\/revisions"}],"predecessor-version":[{"id":1011,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/posts\/1009\/revisions\/1011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/media\/1010"}],"wp:attachment":[{"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/media?parent=1009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/categories?post=1009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mymortgagepros.com\/wp-json\/wp\/v2\/tags?post=1009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}