Category Archives: Government

New CMHC restrictions could impact mortgage rates

First-time buyers likely to feel impact of new CMHC restrictions as housing market starts to surge again. First-time buyers are most likely to feel any impact of new restrictions introduced by the Canada Mortgage and Housing Corp. that appear to be aimed at further cooling the housing market and limiting Ottawa’s exposure if house prices […]

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Bank of Canada signals rates likely on hold until 2014

The Bank of Canada announced on January 23rd, 2013 that it is keeping its key policy interest rate at 1 per cent, where it has been held for more than two years. In providing guidance on where interest rates are heading, the Bank said interest rate hikes are “less imminent than previously anticipated.” The Bank […]

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As tougher mortgage rules bite, critics call for a review

The real estate industry has ramped up its attack on rules making it harder to borrow but its challenges face one big obstacle — mortgage restrictions are working exactly the way the federal government wants them to. In the past week the Canadian Association of Accredited Mortgage Professionals weighed in with complaints that Ottawa’s restrictions […]

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Harper Government Takes Further Action to Strengthen Canada’s Housing Market

As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages. “Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The […]

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