Mortgage Insurance Insights Newsletter
Introduction from Andy Charles
September 30, 2014 | Mortgage Insurance Insights Newsletter
A slow start to the spring market turned into a strong summer and activity levels continue to be stable. Across the country, the housing market remains balanced and while autumn is not the busiest season for our industry, it often represents the last “rush” for homebuyers eager to solidify their offers and take possession before the holiday season arrives.
Temperatures (along with projected housing starts) may be cooling, but low mortgage rates continue to entice buyers into the housing market before potential rate increases become a reality. For some, this can mean taking on difficult-to-sustain household debt, leading to affordability concerns and consequent financial difficulties. For others, homeownership may be getting further and further out of reach. In markets like Vancouver, Calgary and Toronto, where home prices continue to rise and affordability is stretched, some homebuyers are being priced out of the market or are unable to move-up from their current homes. While more than one option exists, in this issue of Mortgage Insurance Insights we highlight a product designed to help borrowers who may be struggling to find their dream home, but see the potential in a more affordable property – after identifying a few key enhancements. The Purchase Advantage Plus™ product allows qualified homebuyers the opportunity to purchase a home and make value-added improvements immediately, all managed through one mortgage product.
With convenient tools and customized programs available to help your clients succeed, Canada Guaranty remains committed to offering solutions that provide responsible borrowers greater access to affordable and sustainable homeownership. Contact a member of our national team to find out how we can help bring your clients’ homeownership dreams within reach.
President and CEO
Canada Guaranty Mortgage Insurance Company