Private mortgage insurers prod Ottawa to ensure CMHC raises premiums

Posted by Ravi Gulati | Posted in Economy & Markets, Financial Planning | Posted on 03-12-2013

Canada‚Äôs private mortgage insurers are pressing the federal government to get Canada Mortgage and Housing Corp. to raise its premiums, sources say, a move that could add to the cost of a home for some buyers…………

But because the federal Crown corporation dominates the business, private competitors tend to copy its prices, and would be extremely reluctant to raise prices on their own, industry sources say. CMHC has not raised its prices since the late 1990s, and actually lowered them between 2003 and 2005.,…

Private mortgage insurers prod Ottawa to ensure CMHC raises premiums – The Globe and Mail.