Beginning February 15, 2016 CMHC is changing it's minimum down payment requirements for mortgages.  While the requirement will remain at 5% down on the first $500,000, the portion of the mortgage that is over $500,000 will require 10% down.

Example:

Down payment requirement on $750,000 mortgage:

Currently = $750,000*5% = $37,500

Beginning February 15, 2016 = ($500,000*5%)+($250,000*10%) = $50,000

Under the new requirements an additional $12,500 is required for the minimum down payment.

For more information, follow the link below.