CMHC Increasing Mortgage Insurance Premiums
CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. See link below for more details
https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2017/2017-01-17-0830.cfm
CMHC’s standard mortgage loan insurance premiums will be changing as follows:
| Loan-to-Value Ratio | Standard Premium (Current) | Standard Premium (Effective March 17, 2017) |
|---|---|---|
| Up to and including 65% | 0.60% | 0.60% |
| Up to and including 75% | 0.75% | 1.70% |
| Up to and including 80% | 1.25% | 2.40% |
| Up to and including 85% | 1.80% | 2.80% |
| Up to and including 90% | 2.40% | 3.10% |
| Up to and including 95% | 3.60% | 4.00% |
| 90.01% to 95% Non-Traditional Down Payment | 3.85% | 4.50% |