Category Archives: Blog

CMHC Mortgage Premiums Set to Soar

Despite billion dollar profits, stricter lending guidelines and a robust housing market, CMHC is spearheading an increase to mortgage insurance premiums.  These premiums are a necessary evil for home buyers with less than 20% downpayment.  The new premiums take effect May 1st, but don’t impact mortgage applications that have been submitted prior to the May 1 deadline regardless of the actual closing date.  As is standard practice in this oligopoly, … Read More

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