CMHC
Proper noun
Meaning
CMHC (uncountable)
(Canada) Initialism of Canada Mortgage and Housing Corporation
Anagrams
Examples
About $1 billion worth of mortgage payments were deferred each month during the pandemic, says CMHC.
• After several quarters of declines, house prices in Regina stabilized in the first quarter of 2016 with the reduction in resale supply, CMHC said.
Canada's pace of housing starts, meanwhile, jumped to 262,396 units from 245,425 units in July, the Canadian Mortgage and Housing Corporation (CMHC) said, easily beating analyst expectations of 220,000 units.
According to the CMHC, Toronto has a 1.1 per cent rental vacancy rate, well below the 3–4 per cent considered ideal for a healthy housing market.
The CMHC determined families in Yellowknife would need to earn $60,680 a year to rent a one-bedroom apartment, $69,760 to rent a two-bedroom apartment, $86,333 to buy a condo, and $103,194 to buy a home.
CMHC provides home loans to over-extended or low-income borrowers otherwise unqualified for bank loans, fuelling excess demand and reducing affordability for everyone.