It's always a good idea to ask your insurance agent how reimbursement rates are
calculated by your homeowners insurance policy and company.
Not exact matches
That is, when debt service ratios are
calculated using the discounted mortgage rates actually charged
by banks (about 125 percentage points below posted rates), the average Canadian
homeowner is paying just 25 % or so of income on mortgage payments, far below the 32 % benchmark used for mortgage -
insurance qualification.
The more I think about it the more I believe that this is a smoke screen used
by a government agency to rally public discord away from their own bureaucracies which via their HST, land transfer taxes and mortgage
insurance rules — all percentages
calculated on the sale price of the home
by the way — do more to inflate house prices without providing any evidentiary benefit to the
homeowner.