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CMHC Hikes Mortgage Insurance Premiums
There is an increase in the insurance premium but the increase is small enough it should effect too many people when purchasing a property with less then the 20% down.
“Prior to the announcement, the premiums ranged between 0.5 per cent and 2.75 per cent. Under the new rules, they will range from 0.6 per cent to 3.15 per cent.”
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