Romy Bowers Named New CMHC CEO as Outgoing Evan Siddall Addresses Off-the-Mark Forecasts + MORE Mar 5th

Learn more about Canadian mortgage rates, rules and the latest news – read on!

Latest News

13,000 CIBC mortgage clients have come out of negative amortization Dec 19th

Over the past three months, roughly 13,000 CIBC clients have taken action to bring their mortgages out of negative amortization..... More »

Will you make money on your rental property? + MORE Sep 8th

After a strong rise in real estate prices in 2021 and in early 2022, many markets are now seeing weakening home prices. Current rental property owners, as well as new potential investors looking to buy, may be wondering how to determine if a rental property is a good strategy for them. If you are.... More »

How to build credit history in Canada + MORE Jun 30th

A credit history is a person’s track record of using credit (borrowing money) and repaying debt. Your credit history can affect many aspects of your financial life—from getting approved for a credit card or renting an apartment to taking out a mortgage or a car loan, among other things. In some .... More »

The latest mortgage news: Variable-rate mortgages are making a comeback + MORE Jun 29th

Mortgage borrowers are increasingly opting for variable-rate mortgages, a trend that is expected to continue as the Bank of Canada continues to lower interest rates..... More »

What New Year’s credit deals promise—and why you should be wary Jan 17th

January is for fresh starts, but too many Canadians are held back by last year’s overspending. Lenders know about new year’s debt-hangovers, so you may be seeing more credit offers in your inbox—but be wary. Used incorrectly, that deal on a balance transfer or sign-up bonus could get you into .... More »

Romy Bowers Named New CMHC CEO as Outgoing Evan Siddall Addresses Off-the-Mark Forecasts

– canadianmortgagetrends.com

The Canada Mortgage and Housing Corporation has named its new CEO, capping what has been an extended search to replace outgoing chief Evan Siddall. Romy Bowers, CMHC’s current Vice President of Client Solutions, will succeed Siddall and officially begin her five-year term starting April 6. “I believe that my tenure with CMHC has allowed me to fully understand our business and our culture and I am excited to work closely with my colleagues across the company to help us continue […]

Continue Reading On canadianmortgagetrends.com »

A “big six” bank announces a new program to help Canadians with their home financing needs

– canadamortgagenews.ca

It is about time for some good news to be shared regarding the housing market and the mortgage industry. Luckily, one bank has stepped in to help make that happen. The bank has launched a new program that aims to help Canadians with financing a home. Great, right? I sure think so.

Let’s look at some of the highlights the program has to offer.

The new program will expand to help Canadians and permanent residents who have returned to Canada within the past five years.

This is excellent news for those who have been living abroad and recently returned to Canada.

The new policy will now help support refinances and transfer ins.

This means buyers will be able to finance second homes and rental properties that the owner does not live in.

The policy will allow buyers to apply with up to 80% Total Debt Serviceability (TDS).

This means that buyers can put down less upfront and still own a home. Under this program, buyers will not need to meet a requirement of 44% TDS until the following year…

Continue Reading On canadamortgagenews.ca »

Why not follow our RSS feed to keep in sync with the latest Canadian mortgage news?

Share