Canada housing agency to up some mortgage insurance premiums

Thu Apr 2, 2015 4:48pm EDT
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OTTAWA, April 2 (Reuters) - Canada's federal housing agency said on Thursday it will increase mortgage loan insurance premiums for homebuyers with a less than 10 percent down payment as of the beginning of 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, while the changes do not apply to mortgages currently insured by CMHC. ($1 = 1.2560 Canadian dollars) (Reporting by Leah Schnurr; Editing by Meredith Mazzilli)