CMHC Statistics from Its Corporate Plan

CMHCCMHC is Canada’s largest mortgage default insurer and its Corporate Plan Summary has a load of data about how it operates.

On average, CMHC insures people with good credit, good equity, modest mortgage amounts and traditional (~25-year) amortizations.

Here are other highlights…

General Market Data

  • CMHC forecasts that it will insure 706,664 mortgages this year, down 15% from its expected volumes in 2010, and down 33% from 2009.
  • Large multi-unit properties and rural/smaller markets comprise almost 40% of CMHC’s high-ratio insurance business.
  • CMHC insurance distribution by province:
    • Ontario: 44%
    • B.C.: 16%
    • Alberta: 15%
    • Quebec: 16%
    • Other provinces/Territories: 9%


  • Arrears rates on CMHC-insured mortgages are in-line with industry trends as reported by the CBA.
  • As employment levels continue to improve, CMHC expects its already low arrears to moderate throughout 2011.

Amortization and Terms

  • The average amortization period for all CMHC-insured homeowner loans at initiation is 24 years.
  • The average amortization period for CMHC-insured  rental mortgages is 25 years.
  • The ratio of mortgages with terms over three years: 82%

Credit Quality

  • Average credit score of CMHC-insured borrowers in 2009:  718 (the range is 300-900)
  • Only 5% of CMHC-insured borrowers have no score or a score less than 600
  • 69% have scores over 700
  • 25% have scores from 600 to 699

Value and Equity

  • Only 10% of CMHC insured properties have a value over $400,000
  • The average CMHC-insured homeowner has a $151,630 mortgage balance
  • 87% of CMHC insured mortgages have a loan-to-value under 90%
  • Average equity of a CMHC-insured borrower: 46%


  • 50% of CMHC-insured high-ratio borrowers accelerate their mortgage payments
  • CMHC plans to guarantee $20 billion in NHA MBS in 2011, and $32 billion in Canada Mortgage Bonds

Rob McLister, CMT

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