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8 Mar

CMHC Increasing Mortgage Insurance Premiums


Posted by: Laura Corfield

CMHC announced this morning that on May 1st they will be increasing their insurance premiums on new policies only by approximately 15%. On a $400,000 mortgage with a 5% downpayment this means an increase to your mortgage premium of approximately $1640 and an increase to your payment per month of $7. Read this article from the globe and mail for more info.