Brookfield to acquire 57% interest in Genworth
Rate will increase for buyers with a down payment of 10 per cent or less
New written insurance policies rose 23%; marginal increase in new delinquencies
U.S. parent would still retain majority interest
Mortgage insurer Genworth Financial Canada says its products will comply with the federal government’s recently announced adjustments to the rules for government guaranteed mortgages aimed at protecting and strengthening the Canadian housing market.“We support including fixing the maximum amortization period for new government-backed mortgages to 35 years, and requiring a minimum down payment of 5% […]
Buyers over 55, changing lifestyles, will keep market growing through 2011
New option helps keep monthly mortage payments affordable