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…
Read MoreLuxury home mortgage insurance is being offered by fewer players
