Effective June 1, 2015 CMHC will be increasing the Mortgage Loan Insurance Premium for homebuyers with less than 10% Down Payment. Currently, the premium is 3.15%.
After June 1, 2015 it will be 3.6%.
On any new loan requests submitted on or after June 1, 2015, the new Insurance Premium will apply. Buyers with greater than a 10% down payment will not be affected. For more detailed information, here is the link from CMHC.
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