Quantcast
Channel: Canada
Viewing all articles
Browse latest Browse all 18924

CMHC Raising Mortgage Insurance Rates

$
0
0

OTTAWA - Canada Mortgage and Housing Corp. will be raising the rates it charges to insure mortgage loans but says the typical home owner will see only a small increase to their monthly costs.

The new rates affect mortgages for owner-occupied homes, self-employed borrowers and rental properties with one to four units.

CMHC estimates the increase will add about $5 per month to the average home buyer's mortgage payments.

The new premiums go into effect May 1 and apply to new mortgages, not those already insured by CMHC.

The federal agency is the country's largest insurer of home mortgages.


Viewing all articles
Browse latest Browse all 18924

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>