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The CMHC says short-term rental companies could help bring down rents.
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The objective of that policy is to reduce mortgage lending. It means that a potential home buyer who can comfortably afford the costs of buying a home (based on their actual mortgage interest rate, which will usually be less than three per cent) might not be able to get financing, because of a new, very high "stress-test" hurdle (using an interest rate that is currently 4.64 per cent, and far above actual market rates).
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Foreign buyers aren't the major factor driving up house prices, Evan Siddall says.
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Head of federal mortgage insurer calls for higher down payments.
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High levels of debt plus rising house prices result in economic contractions, warns CMHC CEO.
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Some experts worry Canadian banks are too eager to lend mortgages.
Canadian house prices would drop 26 per cent on average if oil fell to $35 a barrel and stayed there for five years, says the CEO of Canada Mortgage and Housing Corp. Evan Siddall made the comment at...
TORONTO - Former investment banker Evan Siddall has been appointed the new president and chief executive officer of Canada Mortgage and Housing Corporation.Siddall, who was most recently a special adv...