The Canadian National Housing Agency has increased the Premium amount for mortgages by 15%. This insurance premium is charged when home buyers have less than 20% down payment to put on their purchase. This increase will take affect as of May 1st, 2014. Before the increase was announced, premiums were in the range between 0.5% – 2.75%. However, with this increase the ranges are now between 0.6% – 3.15%. The individuals who would be most impacted by this increase are the home buyers who are only putting 5% down payment. Since this is the lowest amount you can put down on a home, it would hurt them the most and take a big chunk out of the down payment.