Mortgage Loan Insurance Premiums

Effective March 17th, CMHC’s mortgage loan insurance premium rates will be increasing. CMHC’s current premium rates will apply for applications submitted to CMHC prior to March 17, 2017 regardless of the closing date.

This will result in an increase of approximately $5-$10 to the monthly mortgage payment for our CMHC-insured homebuyers. Here is the premium schedule.

 

Loan-to-Value Ratio
Current
Mar 17, 2017
Up to & including 65% 0.60% 0.60%
Up to & including 75% 0.75% 1.70%
Up to & including 80% 1.25% 2.40%
Up to & including 85% 1.80% 2.80%
Up to & including 90% 2.40% 3.10%
Up to & including 95% 3.60% 4.00%
90.01% – 95%
(non traditional dp)
3.85% 4.50%
BOC Qualifying Rate 4.64%