CMHC Premium Increase Coming
Canada Housing and Mortgage Corporation (CMHC) announced late last week that effective June 1st, insurance premiums for those who have less than a 10% down payment will rise 45 basis points to 3.6%. CMHC indicated this will only add about $5 per monthly payment.
Does not sound too bad – or does it?
Our very our Shaun Serafini from DLC Mortgage Excellence wrote on Mortgage Broker News: