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CMHC defends mortgage stress test changes amid calls for loosening rules – Boundary Creek Times As of July 31, low-ratio mortgage borrowers who take out CMHC insurance will be subjected to the same restrictions as high-ratio borrowers.
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The CEO of Canada Mortgage and Housing 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. 3 Things to Know in the Housing Market Today! Posted on June 12, 2019 by Hilary Blaha.
U.S. existing home sales unexpectedly fall in April – Reuters – UKA News U.S. must ensure access to safe abortions: U.N. rights office Reuters – by Cecile Mantovani FILE PHOTO: People gather at the Alabama State Capitol during the March for Reproductive Freedom against the state’s new abortion law, the Alabama Human Life Protection Act, in Montgomery, Alabama, U.S.
The Feds clearly wanted to crack the housing market, and they may have finally done it, with a sledgehammer. New Department of Finance (DoF) rules will hit the mortgage market hard, but consumers will take the brunt of the blow. The two big changes: 1) Effective Oct. 17, the qualification rate will now apply to all high-ratio insured mortgages, even 5-year fixed terms.
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