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TORONTO AND AREA REAL ESTATE MARKET NEWS BLOG

Toronto and area market news blog for the popular Toronto website http://www.torontogreathomes.com

Mortgage Rates & CMHC fee increase

On May 1st CMHC will increase mortgage insurance fees.
This increase will apply to all mortgage pre-approvals and mortgage approvals after April 30th (with an offer to purchase).

5% down payment 
CMHC fee increases from 2.75% to 3.15% (up $1,200 on a $300,000 mtg)
10% down payment 
CMHC fee increases from 2.00% to 2.40% (also up $1,200 on a $300,000 mtg)

Fixed rates have been going down lately. 

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