CMHC Premium Increase
- Premium Increase is effective March 17th, 2017
- Client needs to have accepted offer and approval from CMHC by the 17th
- No conditions for closing dates so pre-sales are ok if approved for March 17th
- Premium increase is substantial and specifically targets the larger down payments
- Changes in premium is due to the governments new capital reserve requirements that came into effect on January 1st of this year