Latest News

CMHC to increase mortgage insurance premiums

posted by The Mortgage Associates    |   April 21, 2015 19:40

CMHC to increase mortgage insurance premiums

Article by CMHC, April 2, 2015

"OTTAWA, ONTARIO--(Marketwired - April 2, 2015) - As a result of its annual review of its insurance products and capital requirements, CMHC is increasing its homeowner mortgage loan insurance premiums for homebuyers with less than a 10% down payment. Effective June 1, 2015, the mortgage loan insurance premiums for homebuyers with less than a 10% down payment will increase by approximately 15%.

For the average Canadian homebuyer who has less than a 10% down payment, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. This is not expected to have a material impact on housing markets.

Premiums for homebuyers with a down payment of 10% or more and for CMHC's portfolio insurance and multi-unit insurance products remain unchanged. The changes do not apply to mortgages currently insured by CMHC.

"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, Senior Vice-President, Insurance. "The premium increase for homebuyers with less than a 10% down payment reflects CMHC's target capital requirements which were increased in mid-2014."

CMHC is mandated to operate its mortgage loan insurance business on a commercial basis. The premiums and fees it collects and the investment income it earns cover related claims and other expenses while providing a reasonable rate of return on its capital holding target.

CMHC contributes to the stability of Canada's housing finance system, including housing markets, by providing qualified Canadians in all parts of the country with access to a range of housing finance options in both good and bad economic times."

To read the full article, please click here.

Rent vs. Buy

posted by The Mortgage Associates    |   December 22, 2014 08:37

Rent vs. Buy

Article by Genworth Canada

"To buy or not to buy. It’s a question many people struggle with. And it’s important to know if you truly want to own a home before you’re firmly entrenched in the homebuying process"

To read the full article, please click here.

How to save for a house under tighter mortgage rules

posted by The Mortgage Associates    |   December 15, 2014 13:15

How to save for a house under tighter mortgage rules

Article by Chris Atchinson, The Globe and Mail, December 10, 2014

"When revised mortgage rules took effect in July, 2012, a collective groan rippled across the Canadian housing market.

Many who would have qualified for a mortgage insured by Canada Mortgage and Housing Corp. (CMHC) just a month earlier would be hard-pressed to meet the new conditions or had to save for larger down payments."

To read the full article, please click here.

Shawna made the process and experience effortless!

posted by The Mortgage Associates    |   December 9, 2014 09:13

Shawna MacDonaldShawna and her assistant were incredibly helpful and knowledgeable.  Made the process and experience effortless!  Highly recommend Shawna for future endeavors. 

Nathan Persson-Riess, December 2014








Down Payment Help

posted by The Mortgage Associates    |   November 25, 2014 08:15

Down Payment Help

The Exchange with Amanda Lang Featuring Jim Murphy, November 18, 2014, CBC News

"Jim Murphy on what the Canadian Association of Mortgage Professionals discovered about first-timers in the mortgage market."

Click here to watch the video.

Shawna and her staff would always update on what was happening and what I needed to have

posted by The Mortgage Associates    |   November 24, 2014 08:18

Shawna MacDonald"As a first time home buyer I had no idea about the whole process. I was recommended to go to Shawna from my sister and I am so glad I did! Shawna and her staff were there to answer any question that I had and they would always be updating me on what was happening and what I needed to have. They made the extra effort to always contact me only when I could be reached and the whole process went smoothly! Thank you so much Shawna for everything and I will be sure to pass your name on!"

Mark Romanowski, November 2014






A mortgage that's a poor fit can cost you thousands. Ask questions & understand what you're getting.

posted by The Mortgage Associates    |   October 23, 2014 11:41

Buying your first home:  Three steps to successful mortgage shopping

Document by the Government of Canada

Click here to read the document.

Five signs you are ready to take the home-buying plunge

posted by The Mortgage Associates    |   October 17, 2014 10:22

Five signs you are ready to take the home-buying plunge

Article by Augusta Dwyer, Special to the Globe and Mail, August 12, 2014

"It may seem obvious, with today’s low interest rates, high rents and a strong housing market: If you’ve got the money, buy now.

But how to know when you are truly ready to make the leap?

Not everyone who would like to buy is actually prepared, financially and emotionally. Real estate experts have recognized signs that indicate when someone is, and meeting those criteria can make the difference between frustration and success."

To read the article, please click here.

Buying your first home..check out the mortgage glossary

posted by The Mortgage Associates    |   September 24, 2014 08:11

Buying your first home.. check out the mortgage glossary

Home Buying Step by Step:  Words to know when buying a home

Click here to view the glossary.

The Ultimate List of Homebuyers Tips

posted by The Mortgage Associates    |   August 27, 2014 08:20

The Ultimate List of Homebuyers Tips

Article by Andy Fulton, April 21, 2014

"The Internet is awash with short and incomplete lists of tips for homebuyers. For the many Americans unfamiliar with the home-buying process, trying to determine which tips to focus on could be confusing. Upon reading these lists, aspiring homebuyers must ask themselves, “Are these tips that industry experts would actually recommend, and are they worth spending my valuable time on?”

To remedy this problem, Market Leader gathered tips for homebuyers from half a dozen sources, put them all on one giant list, and, after removing the trivial and contradictory ones, surveyed almost 400 real estate agents about the importance of each tip. For the 17 tips featured in this survey, participants indicated whether they found them to be very, moderately or slightly important for homebuyers – or not recommendable at all!"

Click here to read all the full article.