Luxury home mortgage insurance is being offered by fewer players

Luxury home mortgage insurance

The CMHC has announced that it will no longer be offering coverage for these high end properties. Among the recent cuts that the Canada Mortgage and Housing Corp has been making, and that have been toping insurance news headlines in the country, is one of the latest that includes the elimination of luxury home mortgage insurance products. The properties that will no longer be covered will be those that cost $1 million or more. The CMHC has stated that as of July 31, it will no longer be providing luxury…

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Mortgage insurance to be underwritten less often by CMHC

mortgage insurance canada

This federal housing agency in Canada has made the announcements as added restrictions are made. Canada’s federal housing authority has now officially announced that it will be underwriting a smaller amount of mortgage insurance, as of this year, as the government has increased the restrictions that apply to the type of coverage that is available. This move is designed to help to maintain the current healthy level of the Canadian housing market. The Canada Mortgage and Housing Corporation (CMHC) first made this announcement on Monday. As was already reported by…

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Insurance jobs change focus with improvements in U.S. housing market

housing market insurance jobs

The state of real estate across the country is causing brokers and agents to change gears. The insurance industry and the housing market are very closely related and individuals in insurance jobs, such as brokers and agents, must keep on top of the latest movements in that marketplace in order to ensure that they are spending their time and energy on the products that will be most beneficial to their customers and that will generate the greatest revenues at the same time. Good or bad, the sale of homes has…

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12 First Time Homebuyer Mistakes to Avoid

As the housing market and economy continue to strengthen, many folks feel they are back on their feet and are looking to buy their first home.  The price for renting a home continues to increase as well, adding urgency to many young adults. Understanding the Home Buying Process Buying your first home is an intimidating process.  Not only is this uncharted territory, this is usually the largest financial purchase you will make in your lifetime.  Plus, there are a lot of moving parts including finding a home, making the offer,…

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Mortgage insurance sector sees improvements from housing market growth

housing market insurance jobs

This sector of the industry is experiencing considerable benefits from the steady increase in real estate activity. Radian Group and MGIC Investment have experienced a boost this year as the data that supports the recovery for the American housing market continues to be collected, and is indicating that the mortgage insurance sector of the industry is experiencing measurable improvements. Two important reports were issued last week that show that home prices and sales in the U.S. are improving. The report entitled Research Driven Investing looked more deeply into the various…

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Home refinancing to see lower mortgage insurance premiums from the Federal Housing Administration

The Federal Housing Administration (FHA) has announced that it will be lowering the premiums for mortgage insurance for individuals who are refinancing their loans due to the housing market improvement strategy by President Barack Obama. The FHA has stated that it will be reducing the up-front premiums to bring them down from their former position at 1 percent, to 0.01 percent. This was indicated in a fact sheet that the Obama Administration began distributing on Tuesday. According to that same fact sheet, there will also be a reduction in the…

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