10 September 2013

CMHC – stricter mortgage rules show a positive effect on Canadian borrowers

It seems that stricter mortgage rules are actually causing a decrease in defaults. In addition to it, CMHC profits go up, according to the Corporation’s report released at the end of August.

“During the first six months of this year CMHC’s net income was $824 million, which is 6% ($49 million) higher than during the same period in 2012,” – the agency noted. “The main reason for such an increase is lower net claims.”…

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