CMHC again moves to tighten mortgage insurance rules

CMHC is moving yet again to tighten the home mortgage market with changes that would make it more difficult for certain Canadians to obtain government-secured financing for real estate purchases.

The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income validation, and will offer no insurance on Canadians seeking to purchase a second property.

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Randy Ramadhin

Randy Ramadhin

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CENTURY 21 People's Choice Realty Inc., Brokerage*
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