CMHC has Announced Increase to Mortgage Insurance Premiums

March 1, 2014 by admin

CMHC has announced an increase to their mortgage insurance premiums effective May 1, 2014. Any applications submitted for approval on or after May 1 will be subject to the increased premiums.

Term	Bank Rate	Our Rate
6 Month	7.25%	6.84%
1 Year Closed	7.69%	6.79%
2 Year Closed	7.04%	6.49%
3 Year Closed	6.89%	6.01%
4 Year Closed	6.64%	5.84%
5 Year Closed	6.54%	5.79%
7 Year Closed	7.00%	5.74%
10 Year Closed	7.49%	5.94%
VRM Closed	7.65%	6.90%
Line of Credit	8.20%	7.70%

CMHC has Announced Increase to Mortgage Insurance Premiums

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