Tag Archives: ftb

Open Topic

Friday Free-for-all! Let’s go weekend!

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114 Comments

It’s that time of the week again… Friday Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

–Mort. Insurance fees hurt 1st timers?
–1/3 new owners use cash from family?
–Rates. How low can they go?
–Sunshine coast 2014 market summary
–No gold watch for you!
–BC LNG projects threatened by glut
–Economic hit spreads beyond oil patch
–Does oil price affect Vancouver RE?
–Low rates hurting investors?
–Salesman predict decade long boom
–Divergence between TSX and financial services
–John Bairds new job
–

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

 

Canada, CMHC, economy, hype, mortgage

CMHC & Genworth increase mortgage insurance premiums.

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73 Comments

An article over at the Financial Post by Garry Marr asks if recent hikes in mortgage insurance fees are targeting first time buyers.

The move by Genworth Canada, which matches an increase announced Thursday by Canada Mortgage and Housing Corp. will raise insurance costs by 15% for those Canadians with the highest debt-value mortgages allowed by Ottawa.

Of course lets keep things in perspective here – that 15% increase may result in an extra cost of about $5 dollars a month.

You’d have to be really stretched for that to be an issue.

Rob McLister, founder of ratespy.com, said insurers are padding their margins and doing it for loans that usually result in the least amount of money recovered during defaults.

Read the full article here.