Quick Snapshot - Canadian Mortgage and Housing Corporation Increase

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