27 Apr 2012

Canadian federal government to oversee Canada Mortgage and Housing Corp

The federal government of Canada has moved to control the hot real estate market through new legislation that would give the Office of the Superintendent of Financial Institutions oversight of the Canada Mortgage and Housing Corp (CMHC).

CMHC provides mortgage insurance on high-risk borrowers taking out home loans, according to The Toronto Star. With prices high for Canadian homes right now and interest rates at record lows, the risk of defaults is high for many taking out loans. With the federal government controlling CMHC, the country can monitor the situation and ensure that insurance is being given only on the loans that really need it.

Since the insurance is backed by the government, taxpayers could ultimately be shouldering the burden if a wave of defaults hits the country. The move of direct control over CMHC is aimed to prevent that from happening.

With the Canadian real estate market hot right now, many residents are moving into new houses. One way to ease the pain of moving day is to rent at a storage facility in Toronto. This allows homebuyers more space to keep their stuff until they can find a place for it in their new home.

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

Be Sociable, Share!

Related Articles [3]

Five Reasons Hiring a Moving Company Is Worth It

February 7th, 2020
Moving is almost always chaotic, especially if you decide to pack and move everything yourself. Without the help of your family or friends, it’s practically impossible to...

Jiffy Storage’ Ultimate Moving Checklist

March 29th, 2018
Whether we like it or not, moving is something we all must undertake at least a couple of times throughout our lives. For many people, it is incredibly stressful and...

How To Purge Before A Big Move

August 17th, 2017
Moving not only means deciding what you are going to take with you, it also means deciding what you are not going to take with you. Purging before a move is just as important...

Hammad Assan joined Jiffy Self-Storage in June 2012. He has over 20 years of experience in various Customer service, Sales and Management roles and is a Certified Self-Storage Operator through the Canadian Self Storage Association. His passion for sales and customer service has maintained Jiffy Self-Storage’s position as one of the GTA’s most successful Storage Facilities, as recognized by winning the Consumer Choice Award 22 years in a row, a perfect A+ rating with the BBB with zero complaints and a 4.5/5 Star Review rating on Google. Our tenants greatly appreciate his dedication to exceptional customer service and as a result Jiffy Self-Storage has been recognized and awarded for that. Please contact Hammad about any of your storage, parking, workspace or retail unit needs.

Leave a Comment

Recent Posts Blog Categories Archives Subscribe to RSS Feeds
Essential SSL