UPDATE 1-Canada housing agency to up some mortgage insurance premiums

April 2, 2015 9:40 PM

53 0

OTTAWA, April 2 (Reuters) - Canada's federal housing agency said on Thursday it will increase mortgage loan insurance premiums for home buyers with a less than 10 percent down payment, starting in June.

Premiums will increase by approximately 15 percent, the Canada Mortgage and Housing Corp (CMHC) said. Effected borrowers will see an increase of about C$5 ($4) to their monthly mortgage payment.

Read more

To category page