Here's an interesting opinion article on the CMHC by Sabrina Maddeaux from the Financial Post.
The opinion of this article is to disband the CMHC.
The CMHC this month admitted failure and did some backtracking. They made a move to reverse steps previously taken to tighten the consumer qualifications necessary for home buyers to obtain mortgage insurance.
Sabrina Maddeaux said "We have a housing system where gains are privatized, but risks are socialized; where “have nots” find themselves guaranteeing the mortgages of the “haves.” If there was ever any doubt, the last year made it abundantly clear the CMHC’s market meddling isn’t only excessive, but actively harmful."
What do you think about this? Let me know.
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Here's an interesting opinion article on the CMHC by Sabrina Maddeaux from the Financial Post.
CMHC’s new, strict lending measures will trigger a surge in home purchase volume
CMHC’s new, strict lending measures will trigger a surge in home purchase volume as potential home buyers rush to the mortgage market before July 1, when these policies take effect.
CMHC’s new measures, which include at least one applicant having a minimum credit score of 680 and a maximum debt service ratio of 44 and gross debt service ratio of 35, mean that prospective home buyers who don’t meet the new requirements have a tight deadline to meet.
Call Mike Bolger at (519) 616-2656 if you're in the market to find a home. I'll do my best to find you the ideal home quickly and make your real estate experience stress-free.
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