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CMHC fees on the rise

Blog by Jean Richer - Bilingual Salesperson | January 17th, 2017

An article this morning in the Globe & Mail is talking about rates increasing for CMHC.

How does this affect you? If you are buying a home with less than 20% as a downpayment, you need to have your mortgage insured. This is where your extra fees come into play. They are saying it should be on average and extra $5.00 per month. The fees all depend on what your mortgage is. Find out from your bank or mortgage broker how it will really affect you.