CMHC announces new rules

Financial Post

Canada Mortgage and Housing Corp. is going to make it easier for homeowners renting out apartments in their principal residences to borrow money, a move that could further heat up markets in Toronto and Vancouver.  The crown corporation, which controls a majority of the mortgage default insurance market in Canada, announced changes to its rules Monday and effective Sept.  28 which are aimed at boosting affordable housing.  A background document sent to lenders and obtained by the Financial Post suggests the change is aimed at what CMHC see as a significant part of the housing market.

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Michael James

Michael James

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