CMHC and Genworth will be increasing their premiums, effective May 1, 2014. This increase will only effect new mortgage applications, not existing insured mortgages through the two provides.
The overall dollar amount increase will range depending on the mortgage amount, but the premium added to mortgages with 5% down is 3.15%, 10% down will see 2.40% added to the mortgage amount and a buyer putting down 15% will have additional 1.80%. Those amounts can equal a large sum of money upfront, but on a monthly basis it’s a very nominal amount. I don’t foresee this being a driving force to increase sales in the next 34 days. The following are examples of how the increase in insurance premiums effect ones monthly mortgage payment at 5% and 15% down.

95% Loan-to-Value, 5% down

Loan Amount         $150,000    $250,000    $350,000    $450,000
Current Premium    $4,125        $6,875       $9,625       $12,375
New Premium         $4,725        $7,875       $11,025     $14,175
Additional Premium  $600         $1,000       $1,400        $1,800
Increase to Monthly Mortgage Payment  

                             $3.00         $4.98        $6.99         $8.98

Based on a 5 year term @ 3.49% and a 25 year amortization

85% Loan-to-Value, 15% down

Loan Amount        $150,000    $250,000    $350,000    $450,000
Current Premium   $2,625        $4,375       $6,125        $7,875
New Premium        $2,700        $4,500       $6,300        $8,100
Additional Premium  $75           $125          $175          $225
Increase to Monthly Mortgage Payment    

                           $0.37          $0.62         $0.87         $1.12

Based on a 5 year term @ 3.49% and a 25 year amortization
         
As it stands right now, Canada Guaranty is the only Canadian mortgage insurer that has not planned to raise their premiums.