Genworth follows CMHC with premium increases

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Canada’s largest private mortgage insurer says it is matching CMHC’s increase in premiums for the highest risk loans. Genworth will increase its premiums by 15 per cent on June 1, 2015; that’s the same percentage and date as the federal agency. The new rate for a loan-to-value ratio up to 95 per cent is 3.6 per cent, up from 3.15. For a loan-to-value ratio from 90.01 to 95 per cent, but a non-traditional down payment, the new rate is rising from 3.35 per cent to 3.85 per cent. 
  • steve on 2015-04-07 11:52:33 AM

    This is a no brainer if you are a publicly traded company. More profit.
    Time to buy shares!!!
    If you are a consumer trying to actually OWN a home, this means instead of earning a 5% equity stake in your home after down payment, equity will fall to 1.4%

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