It's time for many Canadians to abandon the 20% down-payment rule

Background for housing rookies: If you have a down payment of less than 20 per cent, you have to pay a hefty premium to insure your lender in case you default on your payments.
http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/some-housing-markets-too-hot-for-traditional-down-payment-wisdom/article26532772/