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Canadians hold increasing mortgage debt (almost $2 trillion in June 2021, [129] $2.16 trillion residential in 2023 [130]) while unemployment rose and net employment fell in 2024. [131] Short-term fixed-rate mortgages are dominant in Canada, [132] typically with the interest rate locked in for five years. This contrasts with the United States ...
The National Housing Act (French: Loi nationale sur l’habitation, NHA) is the primary federal law concerning housing in Canada.More specifically, it is intended to promote the construction of new houses, the repair and modernization of existing houses, and the improvement of housing and living conditions.
In 1979, the Central Mortgage and Housing Corporation changed its name to Canada Mortgage and Housing Corporation. [3] The Canadian Housing Information Centre (CHIC), Canada's largest housing library, was also established that year. 1979 also saw the Milton Park area of Montreal being converted into one of Canada's most successful non-profit ...
Mortgage rules for first time buyers could be relaxed in plans reportedly being studied by regulators as the government looks for ways to grow the economy. The rules were tightened in the wake of ...
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A mortgage investment corporation or MIC is an investment and lending company designed specifically for mortgage lending (primarily residential mortgage lending) in Canada. Shares of a MIC are qualified investments under the Income Tax Act (Canada) for RDSPs, RRSPs, RRIFs, TFSAs, or RESPs. Mortgage investment corporations are generally ...
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The Personal Property Security Act ("PPSA") is the name given to each of the statutes passed by all common law provinces, as well as the territories, of Canada that regulate the creation and registration of security interests in all personal property within their respective jurisdictions.