do they have escrow in canada? here the insurance costs are all with the mortgage bill and it's put in escrow. then the bank pays the insurance. that way the bank knows the insurance is getting paid and it's better for them. also, we avoided mortgage insurance by taking out 2 loans, one for 80% and the other for 20% of the mortgage. we weren't able to put money down so it was our best option.

i think buying a house is always rational because it's an investment.