New CMHC mortgage insurance rules take effect July 1

Posted on Jun 22, 2020 in CMHC

In Canada, mortgage insurance is required for all home purchases involving down payments of less than 20 per cent.

To curb demand from risky borrowers and to stabilize prices, the Canada Mortgage and Housing Corporation (CMHC) is introducing new rules that will make it tougher to qualify for coverage in their mortgage insurance plan. The new rules...

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