Housing starts in one province have increased by 83 per cent year-over-year, according to new figures. In Ontario, the seasonally adjusted annual rates (SAAR) of urban starts were 4,485 in March 2015, a significant increase on the 2,456 urban starts in March 2014. Across the country, the SAAR of urban starts also increased in British Columbia (23 per cent), the Prairies (28 per cent), Alberta (33 per cent) and Manitoba (four per cent), but down …
Canada’s largest private mortgage insurer says it is matching CMHC’s increase in premiums for the highest risk loans. Genworth will increase its premiums by 15 per cent on June 1, 2015; that’s the same percentage and date as the federal agency. The new rate for a loan-to-value ratio up to 95 per cent is 3.6 per cent, up from 3.15. For a loan-to-value ratio from 90.01 to 95 per cent, but a non-traditional down payment, …
The Canada Mortgage and Housing Corp. announced it will increase insurance premiums for those homebuyers and investors who put less than 10 per cent down, and industry players expect the move to impact one type of client in particular. “CMHC completed a detailed review of its mortgage loan insurance premiums and examined the performance of the various sub-segments of its portfolio,” said Steven Mennill, CMHC’s senior vice president of insurance. “The premium increase for homebuyers …
After postponing the federal budget in mid-January, Finance Minister Joe Oliver has scheduled the budget for Tuesday, April 21. Speaking from Canada Goose Clothing’s Toronto plant Tuesday, Oliver promised a balanced budget. “We’re not looking at a budget that will be cutting. We’re looking at a budget that will be providing benefits to Canadians and encouraging more job growth,” Oliver said, according to the Globe and Mail. “We do not, however, need the kind of …
Spring is here! Curb appeal is one of the most important things to consider when you are looking to rent out your income property. But as owners, we can sometimes become blind to some of the little things that our potential renters will notice. These items can be pleasant surprises; however, for the most part, they are things that make the property look dated, uninviting or even scary to those who haven’t had the opportunity …