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This was the title of a recent article in the Globe & Mail. It's referring to the recent discussions on the role of insurance providers for mortgages. The biggest one being CMHC (Canada Mortgage Housing Corporation). These insurance providers have been helping people with less than 20% down payment to purchase a home. Since the 2008 credit crunch and recession their role has been looked at more closely as this is an insurance that the country and tax payers take on as a whole. The Government has been tweaking certain things with mortgages that require this type of coverage including but not limited to the reduction in maximum amortizations. Some critics feel the insurance has helped inflate the current level of housing prices while but on the other hand it has provided cheap and accessible mortgages for thousands of Canadians.

 

Click on the following link to read this entire interesting article and debate:

 

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/what-if-mortgages-were-more-expensive-and-less-accessible/article4573255/

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