All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
Roundup: Canadians respond to the new prostitution law + MORE Dec 13th
Jonathan Hayward/CP
Bella Clava has been a sex worker in Toronto on and off for many years. She prefers to use this pseudonym to protect her identity, as she’s also a social worker and mother of one young daughter. “A lot of people believe that sex work is inherently violent, but I don’t belie.... More »
Just visiting: Stock-picker flirts with real estate Aug 11th
Getty Images
I love to spend a few weeks each summer lounging by a lake. This year I rented a little cottage outside Lion’s Head, Ont. located just a few steps from the waters of Georgian Bay.
It’s hard to visit cottage country without dreaming about buying a little slice of heaven.
Whil.... More »
Sanders Proposes Medicare for None + MORE Jan 18th
His bill would abolish all forms of private insurance and almost all existing public programs..... More »
CMHC to raise mortgage insurance premiums for new homebuyers as of March 17 + MORE Jan 18th
OTTAWA _ Canada Mortgage and Housing Corp. is raising the cost of mortgage loan insurance for new homebuyers effective March 17.
The Crown corporation estimates the increases will add about $5 to a monthly mortgage payment for its average homebuyer.
“We do not expect the higher premiums to hav.... More »
Deadline day brings push for health law enrolment after technical glitch on website fixed Feb 15th
WASHINGTON – After a computer glitch was patched up, supporters of President Barack Obama’s health care law were out in force Sunday trying to get uninsured people signed up by the official deadline for 2015 coverage.
The effort had the trappings of a get-out-the-vote drive, with email r.... More »
NEW CMHC Restrictions: New Rules for Low Ratio Mortgages
– ratesupermarket.ca
It seems hardly a week goes by this spring without a new announcement from Canada Mortgage and Housing Corporation – another slew of changes were announced today, targeting multi-unit developers and low-ratio mortgage borrowers.
What are the New Changes for Mortgage Borrowers?
As of July 31, low-ratio mortgage borrowers who take out CMHC insurance will be subjected to the same restrictions as high-ratio borrowers. These include:
A maximum home price of $1 million
An amortization cap of 25 years
Debt-to-income requirements: 39 per cent for Gross Debt Service and 44 per cent for Total Debt Service ratios, respectively.
The group affected are home buyers who pay more than 19.99 per cent down on their mortgage, and who also choose (or their lender chooses) to take out additional insurance to securitize the mortgage, further limit risk, or help with capital requirements. This insurance, however, is optional unlike high-ratio mortgage insurance, which is required by law for any buyer paying less than 19…
Credit Card Review: RBC Visa Infinite Avion
– ratesupermarket.ca
If you’re on the market for a high quality travel rewards option, the RBC Avion has likely crossed your radar. RBC’s flagship card packs a big sign up punch, offering 15,000 bonus points upon first purchase, and extensive travel benefits and insurance.
RBC’s biggest selling point is the instant opportunity to fly, as their sign up bonus qualifies for a short-haul flight. However, its one-for-one earning potential and flexible redemption process make it a decent everyday option, long after that initial flight. Check out our breakdown of what’s great – and not so great – about this travel rewards card, and whether it’s a good fit for your wallet.
Note: This is a Visa Infinite Tier card – cardholders must have a good credit score to qualify, personal income requirements of $60,000 or a total family income of $100,000. Cardholders also have access to Visa Infinite benefits, including a 24-hour daily concierge, plus discounts and offers on dining and entertainment…
