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你呢，也不用这里跟我墨迹了。虽然听说你finance不错，好像cfc很多人也尊重你的建议，但请你不要信口雌黄，如果你要下一个论断麻烦拿出出处来。而且一个got it？好像显得你就是权威别人都是错的似的。以下英文节选自政府网站https://www.fin.gc.ca/n16/data/16-117_2-eng.asp
第一段Applying a Mortgage Rate Stress Test to All Insured Mortgages，处处在强调一个insured mortgages. OK就算我不全懂，不知道是不是实质上所有的mortgage，不管high-ratio还是low-ratio，都是insured mortgage. 那么你告诉我是，行。
如果你真的告诉我所有mortgage都是insured，我暂时不打断你，那么看第二段Changes to Low-Ratio Mortgage Insurance Eligibility Requirements*。 人家明确写了要想一个low-ratio mortgage被insure, 必须满足地产的价格小于100万。呵呵这你不是自己打自己的脸么。照这样多伦多温哥华不用卖房了。
所以这第二段从侧面证明了：不是所有mortgage都是需要被insure的！从而，不是所有mortgage都会被压力测试的！
Applying a Mortgage Rate Stress Test to All Insured Mortgages*
* Revised October 14, 2016
Today, the Government announced a change to the eligibility rules for new government-backed insured mortgages. Effective October 17, 2016, all high-ratio insured homebuyers must qualify for mortgage insurance at an interest rate the greater of their contract mortgage rate or the Bank of Canada's conventional five-year fixed posted rate. This requirement will also be extended to low-ratio insured mortgages effective November 30, 2016 (see below). This requirement is already in place for high-ratio insured mortgages with variable interest rates or fixed interest rates with terms less than five years.
The Bank of Canada’s conventional five-year fixed posted mortgage rate is the mode (i.e., the most common occurring number) of the conventional five-year fixed mortgage rates advertised by Canada’s six largest banks. The rate is updated weekly and is available on the Bank of Canada’s website(CANSIM table 176-0043). The Bank of Canada’s posted rate is typically higher than the contract mortgage rate most buyers actually pay. As of September 28, 2016, the Bank of Canada posted rate was 4.64 per cent.
For borrowers to qualify for mortgage insurance, their debt-servicing ratios must be no higher than the maximum allowable levels when calculated using the greater of the contract rate and the Bank of Canada posted rate. Lenders and mortgage insurers assess two key debt-servicing ratios to determine if a homebuyer qualifies for an insured mortgage:
To qualify for mortgage insurance, a homebuyer must have a GDS ratio no greater than 39 per cent and a TDS ratio no greater than 44 per cent. Qualifying for a mortgage by applying the typically higher Bank of Canada posted rate when calculating a borrower’s GDS and TDS ratios serves as a “stress test” for homebuyers, providing new homebuyers a buffer to be able to continue servicing their debts even in a higher interest rate environment, or if faced with a reduction in household income.
- Gross Debt Service (GDS) ratio—the carrying costs of the home, including the mortgage payment and taxes and heating costs, relative to the homebuyer’s income;
- Total Debt Service (TDS) ratio—the carrying costs of the home and all other debt payments relative to the homebuyer’s income.
The announced measure will apply to new high-ratio mortgage insurance applications received on October 17, 2016 or later. This measure will not apply to high-ratio mortgage loans where, before October 17, 2016: a mortgage insurance application was received; or, the lender made a legally binding commitment to make the loan; or, the borrower entered into a legally binding agreement of purchase and sale for the property against which the loan is secured.
Homeowners with an existing high-ratio insured mortgage, including those renewing or transferring an existing high-ratio insured mortgage to another lender, are not affected by this change as high-ratio mortgage insurance spans the life of the mortgage.
Changes to Low-Ratio Mortgage Insurance Eligibility Requirements*
*Revised October 14, 2016
The Government also announced today changes to the eligibility rules for newly insured low-ratio government-backed insured mortgages. These new eligibility criteria will help target the funding support provided by government-backed low-ratio mortgage insurance towards safer forms of lending.
Effective November 30, 2016, mortgage loans that lenders insure using portfolio insurance and other discretionary low loan-to-value ratio mortgage insurance must meet the eligibility criteria that previously only applied to high-ratio insured mortgages. New criteria for low-ratio mortgages to be insured will include the following requirements:
These changes will not apply to low-ratio mortgage loans where, before October 17, 2016: a mortgage insurance application was received; or, the lender made the loan or made a legally binding commitment to make the loan; or, the borrower entered into a legally binding agreement of purchase and sale for the property against which the loan is secured. The new low-ratio mortgage insurance eligibility requirements also do not apply if, during the period beginning on October 17, 2016 and ending on November 29, 2016, at least one of these three criteria is met and the loan is funded before May 1, 2017.
- A loan whose purpose includes the purchase of a property or subsequent renewal of such a loan;
- A maximum amortization length of 25 years;
- A property value below $1,000,000;
- For variable-rate loans that allow fluctuations in the amortization period, loan payments that are recalculated at least once every five years to conform to the established amortization schedule;
- A minimum credit score of 600;
- A maximum Gross Debt Service ratio of 39 per cent and a maximum Total Debt Service ratio of 44 per cent, calculated by applying the greater of the mortgage contract rate or the Bank of Canada conventional five-year fixed posted rate; and,
- If the property is a single unit, it will be owner-occupied.
你假如牛逼的话，直接把closing day 改到12月1号吧。
然后再来告诉大家啥情况。
所有的mortgage都是有insurance的，无论low 还是high ratio，以后都要做test
1m的问题，是超过1m贷款的部分，cmhc是不保的。got it？信口雌黄，连这都不懂？
cmhc最大的改革，就是要跟银行均摊风险。
