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Should I Buy a Home before May 1, 2014?


Blog by Diane Cardoso | March 7th, 2014


Should I buy a home now?  If you will be purchasing with under 20% downpayment, you may want to consider purchasing prior to May 1, 2014.  Canada Mortgage and Housing Corp (CMHC) will be changing the insurance premium rates on mortgages under 20% down on May 1.  The 5% downpayment insurance premium will be 3.15% on the face value of the mortgage. Buy now and SAVE, SAVE, SAVE on this extra cost.