Mortgage Default Insurance

What is a high-ratio mortgage? More than a buzzword, the difference between a high-ratio mortgage and a low-ratio mortgage matters, saving you thousands.

A 20% down payment is more than just conventional wisdom, it’s good advice. But should you always save a 20% down payment when you buy a home?

Here are some of the stories that caught our eye this week:

Sponsored by: Home insurance is something you should get when you buy a home. But there are two other types of insurance you may or may not be aware of: Mortgage default insurance and mortgage life … Read More

Another year, another change to the mortgage rules. This year was an interesting one when it came to mortgages as the federal government announced more rule changes.

The federal government has announced plans to apply a stress test to all insured mortgages and close a tax loophole for foreign homebuyers.

It’s the time of year when most people are more interested in spending than saving. Trips to the mall take precedent over trips to open houses, and holiday parties are definitely more fun than checking your … Read More

Flickr: dolmansaxlil On May 1st of this year, the Canada Mortgage and Housing Corporation (CMHC) increased their mortgage default insurance premiums. Mortgage default insurance, which is more commonly known as CMHC insurance, is required of buyers who … Read More

Effective May 1, 2014, the Canada Mortgage and Housing Corporation (CMHC) will increase its mortgage default insurance premiums. The news was released this morning, following the annual review of CMHC’s insurance products and capital requirements, and the … Read More

Flickr: camera_is_a_mirror_with_memory Last week, we updated an old blog post of ours on New to Canada mortgages. One piece of the puzzle we only briefly touched on was mortgage default insurance, and the fact that CMHC will insure … Read More