The Canada Mortgage and Housing Corporation will increase its mortgage insurance premiums for loans above 90 per cent of a home’s value. The move will mean an increase of 15 per cent, taking the premiums to 3.85 per cent from the current 3.35 per cent. The rise is effective from June 1, 2015 and the agency says it should only add around $5 to a monthly loan repayment. Premiums for loans up to and including 90 per cent will not increase.
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