Rising Mortgage Rates Make Borrowing Tougher

Fast forward to 2014, both CMHC and Central 1 Credit Union, trade association for BC and Ontario credit unions, are forecasting a situation of rising mortgage rates. According to CMHC’s Housing Market Outlook 2013: “For 2014, the one-year posted mortgage rate is...

Private Borrowers Face Rising Mortgage Rates

Stricter CMHC Programs Also Affect Private Borrowers Since 2010, Canada Mortgage and Housing Insurance (CMHC) changed the mortgage insurance program to reduce the potential of a housing market bubble in the sub prime market for insured mortgages. These changes include...