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CMHC Increasing Insurance Premiums Effective March 17, 2017

CMHC Increasing Insurance Premiums Effective March 17, 2017

Breaking news!


CMHC ( Canada Mortgage and Insurance Corporation) is hiking mortgage insurance rates for the third time in three years (LTVs affected are 75% and greater) . Premiums are effective March 17, 2017. 

 

At 80% LTV the premium almost doubles from 1.25% to 2.40%, this will greatly affect the monoline lenders who pay this premium for their clients in order to securitize mortgages. 

To those potential clients sitting on the fence to make a decision regarding buying a property , this may affect you sooner than later . 

TO EXISTING HOME OWNERS : THIS RULE DOES NOT AFFECT YOU !

Any questions, please let us know!