Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
CMHC tightens mortgage rules in latest response to COVID-19 + MORE Jun 10th
On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s latest response to the COVID-19 pandemic.
The new rules will lower the amount of debt an applicant for an insured mortgage can carry, set a hig.... More »
How much income do you need to buy a home in Canada? A look at housing affordability in May 2025 Jun 23rd
After an unseasonably chilly spring housing market, green shoots are appearing in terms of buyer demand—and that could mean days are numbered for easy borrowing conditions.
The latest data from the Canadian Real Estate Association revealed that, after six months of declines, sales firmed up bet.... More »
Beyond home prices: What the new CMHC affordability index reveals about Canada + MORE Apr 24th
Take a look at just about any housing affordability index in the country and you’ll notice something pretty quickly: they almost always focus exclusively on home prices and mortgages. Rental units simply aren’t included.
The Canada Mortgage and Housing Corporation (CMHC) has acknowledged this.... More »
Popularity of variable-rate mortgages plummets to pre-pandemic levels + MORE Jun 21st
The popularity of variable-rate mortgages is continuing to fall and is now nearly at levels last seen prior to the pandemic in early 2020..... More »
Are interest payments tax deductible? Aug 12th
Taxpayers may be eligible to claim a tax deduction for interest paid on a loan or mortgage. According to Canada Revenue Agency (CRA), “most interest you pay on money you borrow for investment purposes [can be deducted] but generally only if you use it to try to earn investment income.”
One commo.... More »
Reaction to CMHC’s New Restrictions on Insured Mortgages
– canadianmortgagetrends.com
Obtaining mortgage insurance for a home purchase is about to become more challenging on July 1, particularly for first-time buyers. The Canada Mortgage and Housing Corporation (CMHC), Canada’s national mortgage insurance provider, unveiled stricter underwriting policies on Thursday for insured mortgages. The measures include: Limiting Gross Debt Service (GDS) ratios to 35% (from 39%) Limiting Total Debt Service (TDS) ratios to 42% (from 44%) Raising the minimum credit score to 680 (from 600) for at least one borrower Banning non-traditional […]
