Bob Sethi, B.Comm | 604.273.2828

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CMHC Premiums Going Up May 1st, 2014

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February 28, 2014


Effective May 1st, 2014, CMHC mortgage loan insurance premiums will be increasing. This change will affect:

  • Owner-occupied homeowner;
  • Self-employed homeowner; and
  • 1 to 4 unit rental properties.

How much will this affect you? On average, the increased premiums will equate to an approximate $5 increase in monthly mortgage payments - so not very much at all. The premium increases are also not expected to have any material impact on the Canadian housing market.


If you'd prefer to save the extra $5 per month, get your mortgage application in before May 1st, 2014 with one of my Preferred Mortgage Specialists. Call or email today.

 

 

 

*Special thanks to Randy Chin of RBC for notifying me of this announcment.

*This post made with information referenced from today's CMHC release.

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Bob Sethi, B.Comm
Office:604.273.2828
Fax:604.273.0685
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

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