Drawing conclusions: Will new CMHC premiums raise your mortgage payments?
Published Monday, Apr. 06 2015, 11:23 AM EDT
Canada Mortgage and Housing Corporation issues mortgage loan default insurance. The federal housing agency recently announced that as of June 1, 2015, it was boosting the premium rate on highest-risk mortgages. That means borrowers who have a down payment of less than 10 per cent will be paying 15 per cent more.
Cory Kline, AMP