CMHC Archives - Better Dwelling

From $4 Billion To ? Canadian Insurer Stops Disclosing Underwater Mortgages

Stephen Punwasi — Wed, 30 Aug 2023 19:57:13 +0000

One of Canada’s Big 3 mortgage insurers is no longer publicly sharing its underwater exposure. Canada Guaranty quietly dropped the value of mortgages with negative equity in its latest data, as first reported by the Globe. Is the private insurer, backstopped by taxpayers, hiding a public concern? Let’s take a quick dive into the issue, […]

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Canadian Housing Starts Surge 41%, But Government Targets Are Still Unrealistic: BMO

Daniel Wong — Wed, 19 Jul 2023 18:46:27 +0000

Canada’s real estate developers are pushing forward despite less-than-ideal conditions. CMHC data reveals June housing starts made the biggest jump in a decade. Even with the jump, the general trend has been fewer housing starts, despite the booming population growth. At least one of Canada’s largest banks has stated the country’s goal to double output […]

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Canadian Mortgage Rates Pull Back Ahead of Spring Market

Daniel Wong — Mon, 27 Mar 2023 18:58:56 +0000

Will Canada’s real estate market correction hit pause with an influx of cheap credit? CMHC data shows that 5-year conventional mortgage rates fell in February. Not huge, but the second consecutive month since the most aggressive climb in a generation. With credit costs plummeting even faster in March, it could provide a boost for the […]

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Canadian Mortgage Lenders See Larger Loan Losses, Average Value Soars 68%

Daniel Wong — Thu, 17 Nov 2022 20:19:33 +0000

Canadian real estate is starting to see the first sign of stress from higher interest, and normalized demand. Canadian mortgage lenders are beginning to write off larger mortgages in Q3 2022—the largest in nearly a decade. Credit bureau data shows this isn’t a problem yet, as the share of mortgages written off continues to fall. […]

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Canada’s Mortgage Mayhem From Higher Rates? It Was Just $61

Daniel Wong — Thu, 18 Aug 2022 17:01:12 +0000

Canadian mortgage rates are on the rise but the average household's payment is growing only slightly faster than they were with low rates.

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Canada’s Share of Mortgages Written Off Fell, But The Average Loss Surged Higher

Daniel Wong — Mon, 20 Jun 2022 18:27:23 +0000

Canadian lenders are only writing off a smaller share of mortgages, but the losses are bigger. The average loss from bad mortgages increased sharply in Q1 2022, shows Equifax data. A smaller share of mortgages are producing write-offs, now at a record low. However, that might change fast as the size of the write-offs rise […]

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Canada Quietly Changed Its First-Time Home Buyer Program To Limit Its Losses

Stephen Punwasi — Wed, 01 Jun 2022 22:07:26 +0000

Canada is changing a first-time home buyer program to limit its exposure to losses. The Canada Mortgage and Housing Corporation (CMHC) made unannounced changes to the First-Time Home Buyer Initiative (FTHBI). The program, which sees the government take a stake in a successful applicant’s home purchase, is now limiting its downside exposure. Only a few […]

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Rate Squeeze? Not Exactly, Since Average Mortgage Payments Are Lower Than Rent

Daniel Wong — Tue, 19 Apr 2022 00:31:09 +0000

Canadian mortgage payments are soaring as home prices hit record growth. Those payments might get more expensive for some as interest rates rise. It’s understandable that some are worried homeowners will face significant pressure. However, don’t expect renters to have any sympathy. As expensive as housing is, average mortgage payments are lower than the cost […]

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Canada’s Housing Agency Abruptly Halted Its Public Real Estate Warning System

Stephen Punwasi — Wed, 06 Apr 2022 22:54:25 +0000

Canadian real estate is entering one of its most precarious phases in history. Households will navigate it without the help of the national housing agency, though. The Canada Mortgage and Housing Corporation (CMHC) has halted its Housing Market Assessment (HMA) report. The regular report provided the public with insights on housing market imbalances. The cancellation […]

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Canadian New Home Construction Begins To Slow As Forecasts Call Fewer Starts

Daniel Wong — Mon, 21 Feb 2022 23:37:30 +0000

Canadian new housing construction is slowing, but remains above pre-pandemic levels. Canada Mortgage and Housing Corporation (CMHC) data shows new housing starts slowed in January 2022. The number of new homes to start construction fell below last year’s level. Financial institutions forecast this will continue for at least a couple of years. Canadian New Home […]

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