New CMHC and Genworth Premiums
 January 19 2017     Posted by Siemens Group

          January 17, 2017

    Increase in Homeowner Mortgage Loan Insurance

    CMHC is increasing its homeowner mortgage loan insurance premiums as a result of our regular review of insurance products

    and to reflect the new OSFI Capital Requirements for Federally Regulated Mortgage Insurers that came into effect on January 1, 2017.

    The new Premiums are effective March 17, 2017 and will result in an increase of approximately $5 to the monthly mortgage payment of the

     average CMHC- insured  homebuyer. The premium schedule is as follows:

    Standard Premiums                                               Total Loan Amount                                             Increase to Loan Amount

    Loan to Value Ratio

    Up to and including 65%                                           0.60 %                                                                         0.60 %

    Up to and including 75%                                           1.70%                                                                          5.90%

    Up to and including 80%                                           2.40%                                                                          6.05%

    Up to and including 85%                                           2.80%                                                                           6.20%

    Up to and including 90%                                           3.10%                                                                           6.25%

    Up to and including 95%  -       

     Traditional sources of equity                                     4.00%                                                                          6.30%

Non- traditional sources of equity                                  4.50%                                                                           6.60%

For more inforation on the new premiums visit cmhc.ca.