Canada Mortgage and Housing Corp (CMHC), Genworth Canada, and Canada Guaranty have announced that they will be increasing mortgage insurance premiums effective May 1st, 2014. 

If the application is submitted to the Mortgage Insurer prior to May 1st, 2014, the current (lower) premium will apply regardless of the closing date. The increased premium rates will be effective for new mortgage loan insurance requests submitted on or after May 1st, 2014.

For more information: ddunkley@dominionlending.ca