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Market Monitor

We keep our finger on the pulse of the mortgage investment market to provide you with the latest news and trends from our team of experts. Read our blog to get the latest on mortgage investing so you can invest with CMI.

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31 July 2024

Can Mortgage Product Design Help to Address Housing Affordability?

Over the past 50 years, the housing market has introduced various mortgage products to address a range of challenges faced by homebuyers. This article reviews some of these offerings. Current mortgage products are relatively homogeneous. Most are fixed-rate payment products where both the rate and payment amount are fixed, or where the rate can vary…

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29 July 2024
Tiptoeing Close to the Edge

  The US Federal Reserve will conclude its fifth Federal Open Market Committee (FOMC) meeting of the year on July 31. Although the market isn’t expecting a change in policy at this meeting, the Fed’s communications should set the stage for a September rate cut. For the Federal Reserve to begin cutting rates, it is…

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25 July 2024
Why CMHC Should Explore Synthetic Risk Transfer for Mortgage Securitization

Under the National Housing Act (NHA), a key objective of CMHC is to promote the efficient functioning and competitiveness of the housing finance market. CMHC’s securitization activities through the NHA MBS (mortgage-backed securities) and Canada Mortgage Bonds program are crucial vehicles for achieving this goal. Alongside its securitization business, CMHC operates a mortgage insurance business….

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23 July 2024
Consumer Debt Trends Mortgage Investors Should Watch

An ongoing concern for mortgage investors is the ability of consumers to manage their debt. Many Canadians are currently facing challenges due to high debt levels, elevated interest rates, and high inflation. While household incomes and saving rates are higher than pre-pandemic levels, not all households have adjusted equally. In the coming quarters, financial pressures…

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17 July 2024
Are we Plucking the Wrong Goose

The Greater Toronto Area’s (GTA) benchmark home price for June 2024 was $1,110,600. Land is a major part of that cost. We have looked at ways to reduce this burden through leasing and for low-income housing leasing under-utilizing government-owned land. What is not widely discussed is how our tax system makes housing unaffordable. A study…

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16 July 2024
Housing market remains steady

Highlights Home sales in Canada rose in June (3.7 percent m/m) along with the average price (1.5 percent). The tables below summarized the key data points. Existing home sales rose by 3.7 percent m/m (seasonally adjusted) in June and remained at the lower end of seasonal norm. While early indications from local real estate boards…

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11 July 2024
Unlocking Housing Solutions: Expanding Financing for Auxiliary Dwelling Units (ADUs)

An Accessory Dwelling Unit (ADU) is a small, self-contained residential unit built on an existing property. ADUs can take various forms, such as a detached backyard cottage, a basement suite, or a garage conversion. They include a sleeping space, kitchen, bathroom, and must have a dedicated entrance. While typically built on-site, ADUs can also be…

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