Loading...

CMHC Increasing Mortgage Insurance Premiums

Wednesday Jan 18th, 2017

Share

Effective March 17, 2017, Canada's federal housing agency will be increasing the cost of mortgage loan insurance for homebuyers as part of new regulatory requirements to offset risks in Canada's hot real estate markets, particularly Toronto and Vancouver. It is an attempt to slow down the appreciation of homes by making it more difficult to enter the real estate market. CMHC says the new premium changes are calculated based on the loan-to-value ratio of the mortgage being... [read more]

READ MORE