Mortgage Insurance Premiums Set to Increase
Are you thinking about purchasing real estate? If you are, and planning to put less than 20% down, may we suggest doing it prior to March 17, 2017 . On March 17 CMHC plans to increase their mortgage insurance premiums. The increase means a 5% down payment will cost you an additional $400 in mortgage insurance per $100,000 of mortgage. No word yet whether the other two insurers will follow suit, however they normally do.
Click here for more info.
