Category: Insurance Services

06

Dec

CMHC Hiking Insurance Premiums

Homebuyers with less than 20% down are going to pay more. CMHC is hiking mortgage insurance rates for the third time in three years. Premiums are jumping up to 0.65 percentage points on the highest LTV mortgages, effective March 17, 2017. Here’s the new premium table: But high-ratio hikes aren’t the only story. Premiums on mortgages between 65.01 and 80% LTV are soaring too. At 80% LTV, the premium is almost doubling to 2.40%. That will push up interest rates among lenders who