Quote:
Originally Posted by opendoor
Do you have CMHC insurance on your mortgage? A lot of times the absolute lowest rates are only available for those because they're essentially risk free for the lender.
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Why is that? I can see it when the amount you are borrowing is close to the 80% threshold. But when I renewed my mortgage a couple of years ago I was just under 50%. Isn't that also risk free for the lender? The economy would have to tank so bad for my house to lose that much.