Increase in CMHC Loan Insurance Premiums

CMHC (Canada Mortgage and Housing Corporation) helps protect lenders from mortgage default.  CMHC insurance is required when the down payment avalable toward the purchase of a home is less than 20% of the purchase price. 

Effective May 1, 2014, CMHC is increasing it's homeowner mortgage loan insurance premiums. 

For the average Canadian homebuyer, this change will result in approximately an additional $5 to their monthly mortgage payment. This is not expected to have a material impact on the housing market.

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Tamara Perlic

Tamara Perlic

CENTURY 21 B.J. Roth Realty Ltd., Brokerage*
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