Flaherty charges CMHC new risk fee on mortgages

Finance Minister Jim Flaherty is taking another step to curb taxpayers’ exposure to the housing market, by charging Canada Mortgage and Housing Corp. a new risk fee.

As of Jan. 1, the Crown corporation will have to pay the government a fee equivalent to 3.25 per cent of the mortgage insurance premiums it writes and 10 basis points on portfolio insurance it writes.

 

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Randy Ramadhin

Randy Ramadhin

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CENTURY 21 People's Choice Realty Inc., Brokerage*
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