Canada Mortgage Insurance(CMHC) - New 2014 Rates
January 15th, 2014
Starting January 2, 2014, Canada Mortgage and Housing Insurance Corp (CMHC) will be charging 3.25% premium insurance cost for all new mortgages from Buyers with a 10% downpayment. The CMHC insurance premium is a vehicle which allows all Buyers with under 20% downpayment to secure a mortgage. CMHC insures against default on mortgages offered by Lenders. CMHC is backed by the Federal Governme ...