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Stories Tagged - CMHC

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June 22, 2021 | Mario Toneguzzi

Latest stress test changes reduce buying power, impact first-time and move-up home purchasers in Calgary

Recent changes to the mortgage stress test designed to cool down hot housing markets across the country may make it more difficult for some Albertans to purchase a home.

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June 11, 2021 | Barb Livingstone

Calgary rental market struggles with high vacancy, but improvement is on the horizon

The COVID-19 vaccine rollout, a rosier economy and the opening of post-secondary institutions to in-person classes could all improve Calgary's residential rental vacancy rate by as early as this fall.

That's the prediction of industry watchers for a rental market that currently sits at a vacancy high of 6.6 per cent, although steady average monthly rents continue to be made even more attractive for renters by incentive offerings.

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Dec. 22, 2020 | Josh Skapin

CMHC program can save "green" borrowers up to 25 per cent on mortgage insurance premiums

Along with lowering monthly utility bills, green home features can also cut costs for homeowners by reducing their mortgage insurance premium.

Depending on the home's degree of energy efficiency, up to a quarter of a borrower's premium can be covered by a rebate through the Canada Mortgage and Housing Corp. (CMHC) Green Home program.
Courtesy of Brookfield Residential

Sept. 18, 2020 | Mario Toneguzzi

Local homebuilders double down on digital as COVID-19 challenges continue

Calgary's new-home construction market has been challenged this year due to the COVID-19 pandemic. Year-to-date, up until the end of August, there were 5,400 total housing starts in the Calgary census metropolitan region compared with 6,400 for the same period in 2019.

Homebuilders across the city have adopted new health and safety protocols for potential homebuyers when they are searching for a home. They've also upped their game when it comes to their digital presence.

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June 10, 2020 | Tyler Difley

CMHC tightens lending requirements for insured mortgages

Canada Mortgage and Housing Corporation (CMHC) is changing its underwriting policies for insured mortgages.

Starting July 1, new applicants for CMHC's mortgage default insurance will have to meet the following criteria:
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June 01, 2020 | Tyler Difley

Mortgage matters: options and advice for anyone falling behind on payments due to COVID-19

As the COVID-19 pandemic continues, many Calgarians have lost their jobs, been furloughed (i.e., temporarily laid off) or seen their working hours reduced. If this has happened to you and you own a home, the loss of income could, understandably, make it difficult to keep up with mortgage payments.

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April 09, 2020 | Jim Zang

Maxing out: why mortgage pre-approvals can be a double-edged sword

Everyone's heard the term "house poor," referring to anyone who spends a large portion of their income on homeownership, leaving little money left for other expenses or small luxuries. It's a classic case of one's eyes being bigger than their stomach.

That's why getting a mortgage pre-approval can be a double-edged sword – it's nice to know what you can afford, but it's awful tempting to go ahead and spend to the maximum you're approved for. However, this decision can leave buyers vulnerable to fluctuations in the housing market or the overall economy.

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Jan. 10, 2020 | Barb Livingstone

The road ahead: Industry experts predict what 2020 might hold for Calgary real estate

Alan Tennant - CREB® CEO


There is nothing to indicate a major shift in the current
trajectory. I see cautious optimism among the development sector – they are not overbuilding in any sector – and that is a healthy sign. It comes down to consumer confidence. We have two elections behind us, which could have been destabilizing but weren't.

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Dec. 18, 2019 | Barb Livingstone

What they said in 2019: Industry experts share their thoughts on the year that was in Calgary real estate

Alan Tennant - CREB® CEO


The reality of our current market is it's the new normal and there is no reason to sit and wait for it to change. It is not a terrible market, it does have its good aspects.

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Oct. 02, 2019 | Tyler Difley

The new First-Time Home Buyer Incentive by the numbers

The federal government's First-Time Home Buyer Incentive (FTHBI) came into effect on Sept. 2, but many prospective homebuyers still have questions about how the new program could help them enter the market. The most important details of the program are as follows:

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