27 may 2010

Interesting fact: CMHC Insured Mortgages – LTV ratio
Many of us believe that mortgage default insurance applies only to high-ratio mortgages, but as a matter of fact, it’s not so.
On December 31 CMHC had $472.6 billion in mortgage insurance. Actually, 71.1% of it had a loan-to-value of 80% or even less.
By the way, only 4.5% had LTVs more than 95%; approximately 87% mortgagors had 10% equity (or more).