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Canadian Mortgage News
|Posted on May 13, 2013 at 9:59 AM|
Last year’s mortgage regulations shrank the overall high-ratiomortgage insurance market by about 15%, according to recent estimates from Genworth Canada.
Those rule changes also eliminated high-ratio refinances and contributed to a 15% drop in housing sales last quarter versus Q1 2012.
Genworth CEO Brian Hurley spoke today on BNN about the pulse of the market. Here are some of his insights of note (our comments in italics):