Insured mortgage market has decreased: CMHC

  8/30/2017 |   SHARE
Posted in Mortgages and Real Estate by Vanguard Realty | Back to Main Blog Page

The market for insured mortgages has decreased due to new regulations introduced at the end of 2016.

In its second-quarter financial report, CMHC says that it provided mortgage loan insurance for nearly 79,000 units nationwide during the second quarter and for more than 125,000 for the year-to-date (to June 30, 2017).

The typical CMHC insured home buyer had an average mortgage debt of $255,014 and an average credit score of 752.

CMHC’s total insurance in force was $496 billion and the overall arrears rate of 0.29% reflects a continued improvement in the quality of its mortgage loan insurance portfolio.

The corporation generated $397 million of net income after taxes in the second quarter and will pay a dividend of $240 million to the federal government. 

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