CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. According to the downpayment for a loan of $350,000 the monthly increase will range between $6.59 and $16.46. Details here!
In comparison to previous increases, these increases show a more even spread of increases regardless of the type of loan. The justification for the increase is to ensure long-term stability and protect against over purchasing.
