What You Need to Know: Changing Mortgage Default Insurance Criteria

Effective 1 July 2020, CMHC will be changing its mortgage default insurance criteria, making it more difficult for some home buyers to qualify. While those with low credit scores, those intending to use borrowed funds as a down payment, and those with high debt service ratios will be most affected, the overall market impact is expected to be minimal. Our rennie intelligence team comprises our in-house demographer, senior economist, and market analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.