It’s time to get Approved – mortgage insurance premiums increasing May 1st!
CMHC is increasing the insurance rates for mortgage loans by 15 per cent on average. The new premiums will go into effect May 1 and apply to all new mortgages, existing mortgages are not affected. Buyers with less than 20% down payment will be paying more in insurance premiums. Self-Employed clients with no income verification … Read more…