It was like CMHC had never approached its insurance cap before.
In fact, it has—four or five times since 2003.
Therefore, despite CMHC’s insurance in force now being over 90% of its current $600 billion government maximum, it is not in unfamiliar territory on a percentage utilization basis.
On an absolute basis, CMHC will set a new insurance-in-force record once it surpasses $600 billion (if and when the government raises its limit next).
Rob McLister, CMT