Effective May 1, 2014, purchasers of owner occupied homes from 1 to 4 units requiring high-ratio mortgages (less than 20% down payment) will expect to see an average 15% increase in premiums. The increased premium will add approximately $5 to the monthly payments of an average Canadian home buyer requiring CMHC insured funding (about $248,000 in 2013) which is not expected to significantly impact the housing market. Mortgages currently insured by CMHC will not be affected. CMHC reviews its premiums on an annual basis and announces its decisions in the first quarter of each year. For more information, please click here