More Canadians are saving for higher down payments

Canadian home buyers, specially the first timers are getting smarter in ditching the mortgage insurance premium. Ironically, mortgage insurer Genworth, along with Canadian Association of Credit Counselling Services (CACCS) conducted a survey about financial wellbeing and preparedness of Canadians, that revealed that Canadian first time home buyers

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Protection of Residential Mortgage Insurance Act – Changes

Today Genworth reported that the new Canadian Protection of Residential Mortgage or Hypothecary Insurance Act (“PRMHIA”), which will come into force from January First, 2013 – will establish a legislative framework and will replace the current guarantee agreement with Government of Canada Genworth has. The new regulation

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Remarks by OSFI staffs to the Senate Banking Committee – on CMHC

Patty Evanoff, a Senior bureaucrat from the Office of the Superintendent of Financial Institutions Canada (OSFI) appeared in front of Senate Banking Committee to explain certain sections of Bill C-38. The first explanation was that OSFI currently supervises three private mortgage insurers (Genworth, Canada Guarantee, PMI) and

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Regulation change coming

Since a number of experts are talking about overheated housing market and financial leveraging, do you think that a regulation is being cooked to cut amortization period further? Question remains – how far regulation can help in a free market economy? reasons: CBC report: TD Bank economist

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