Thomas Krause

Mortgage insurance premiums are going up in Canada, but the rise is not expected to alter the dynamics in the real estate market in a material way. Canada Mortgage and Housing Corp. (CMHC) made the announcement last Friday after completing its annual review of insurance products and capital requirements.

Mortgage insurance premiums for homes or rental properties that comprise one to four units will increase by about 15 percent on average across the entire range of loan-to-value (LTV) ratios.

For example, for LTV ratios of up to 60 percent, the premium rises 10 percent; for LTV ratios of up to 95 percent, the premium rises 40 percent.

The LTV ratio is the amount of the mortgage loan as a percentage of the appraised value of the property, and is used by lenders to assess their lending risk before approving a mortgage.

A higher ratio is generally seen as higher risk; therefore, if the mortgage is approved, the loan will typically be given at a higher interest rate.

In Canada, mortgage insurance...

Every winter at the beginning of February, Canmore's main street is prepared with snow for Canmore Winter Carnival.

The carnival will include the International Biathlon Union Cup Races, Xterra Triathlon and Chandra Crawford’s Fast and Female. Ski and dog sled race events will take place and the public is invited to bring their cross country skis to enjoy the set ski track on snow covered Main Street. Street hockey, ice carving, log sawing, and snow sculpting events will all take place in downtown Canmore throughout the carnival. See here how the snow tracks are prepared in front of my REMAX office in downtown Canmore. 

Canmore can be cold in Winter, but it is also incredibly beautiful! Located between Banff and Calgary, you get the best of two worlds! Banff National Park is just 5 minutes away and in an hour you are at the airport in Calgary!