Earlier this month, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to mortgage eligibility rules for insured mortgages. CMHC provides insurance to home buyers to protect lenders if a homeowner were to default on their mortgage. If a buyer purchases a home less than $1,000,000 and has less than 20% of the purchase price as a down payment, mortgage default insurance is mandatory. (Homes with a purchase price of $1,000,000 or more are not eligible for CMHC insurance.) These... [read more]

Throughout life, you may have moments where you’ll make a large purchase or invest in a costly item, like your family home. But whether you’re in the market for your first new property or already have a mortgage, leaving this asset unprotected can be costly.    Insuring your housing financial debt, as well as debt for other big-ticket items like a new boat for your lakefront cottage or keepsake jewelry like an engagement ring, is a smart investment in your... [read more]