Stay or Move? 5 Questions that Help you Decide
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11092 147A Street
$699,900
WOW! Opportunity Knocks! Detached home in a nice area for ONLY $699,900!! This three bedroom 1490 square foot rancher is on huge 7721 sq. foot...
14607 60 Avenue
$945,000
WOW! A 12 years young 2511 square foot Sullivan Heights two storey with basement home VALUE PRICED at just $945,000! Located on a huge 4380...
September 2017 Market SnapshotAugust 2017 Market SnapshotJuly 2017 Market SnapshotJune 2017 Market SnapshotMay 2017 Market SnapshotApril 2017 Market SnapshotMarch 2017 Market SnapshotFebruary 2017 Market SnapshotJanuary 2017 Market SnapshotCMHC Set To Raise Mortgage Insurance Premiums in 2017CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.” Capital requirements are an important factor in determining mortgage insurance premiums. The changes reflect OSFI's new capital requirements that came into effect on January 1st of this year that require mortgage insurers to hold additional capital. Capital holdings create a buffer against potential losses, helping to ensure the long term stability of the financial system. During the first nine months of 2016:
Premiums are calculated based on the loan-to-value ratio of the mortgage being insured. The premium can be paid in a single lump sum but more frequently is added to the mortgage principal and repaid over the life of the mortgage as part of regular mortgage payments. Additional details and scenarios are included in the backgrounder below. CMHC regularly reviews its premiums and sets them at a level to cover related claims and expenses while also reflecting the regulatory capital requirements. CMHC is Canada’s most experienced mortgage loan insurer. Our mortgage loan insurance enables Canadians to buy a home with a minimum down payment starting at 5%. As a Crown corporation, CMHC is the only mortgage insurer whose proceeds benefit all Canadians. As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need and offers objective housing research and information to Canadian governments, consumers and the housing industry. December 2016 Market SnapshotStay or Move? 5 Questions that Help you Decide
September 2017 Market SnapshotAugust 2017 Market SnapshotJuly 2017 Market SnapshotJune 2017 Market SnapshotMay 2017 Market SnapshotApril 2017 Market SnapshotMarch 2017 Market SnapshotFebruary 2017 Market SnapshotJanuary 2017 Market SnapshotCMHC Set To Raise Mortgage Insurance Premiums in 2017CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their... December 2016 Market Snapshot |
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