Why is everyone freaking out so much? As pointed out earlier on a 5% down 400k mortgage it is only 1500 difference. With refinancing going forward as well you only have to pay the difference between what you originally had insured and the new amount.
All this move comes down to is CMHC wants to make more money so they increased rates. We live in a capitalist society they can do that if they want to. If you don't like it save 20% and don't use their services or hope that one of their competitors offers lower rates and use them.
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