CMHC Mortgage Insurance Premiums changing as of May 1st, 2014

Under the old rules premiums ranged between 0.5 percent and 2.75 percent. Now under the new rules, they will range from 0.6 percent to 3.15 percent. Not a huge change. As an example, if you are looking at a 25-year mortgage at 3.5 percent, you'll need to add $5 to your monthly payment. Does this change the affordability of the Canadian housing market? We don't think so.

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