Michael Lewicki
Real Estate Broker
Read Michael Lewicki's Blog Contact Michael Lewicki Go to Michael Lewicki's Website Follow Michael Lewicki on Facebook
Follow Michael Lewicki on Twitter Follow Michael Lewicki on LinkedIn

How does the new CMHC Insurance affect you?

Updated Monday, March 10, 2014  ::  Views (5855)

The newly increased CMHC insurance premiums are quite reasonable.  If you look at the graph below,  they illustrate just how much the increase will affect the average consumer.  Keep in mind since the economic meltdown south of the border in 2008, our default ratios here in Canada have increased slightly.  This means more risk for insurers like CMHC and Genworth Financial.  

Anyone who secures financing on a real deal before May 1st, 2014 (regardless of the closing date) will have the old CMHC premium rates.  If you secure financing May 1st or later then new mortgage insurance rates apply.  If you have questions, please contact our office! 

Corinna Smith-Gatcke, Mortgage Agent  M08001535

Know your Mortgage Specialist www.haveyourmoney.com  T 613-498-9719  corinna@brockvillemortgages.com








Know your Mortgage Specialist
Mortgage Advisors Logo
CMHC Rate Chart

Add a Comment

Fields marked with "*" are required to process your form.
Your Name
Email Address (will never be shown)

Allowed XHTML tags : a, b, i, strong, code, acrynom, blockquote, abbr. Linebreaks will be converted Automatically.