Canada Mortgage and Housing Corporation (CMHC) yesterday released its 2019 Annual Report, demonstrating its contributions to the stability of housing markets and the financial system while providing support for Canadians in housing need. In this way, CMHC has moved forward with its restated strategy of promoting housing affordability for all.
“For many Canadians, affordability is the key factor in finding a home. Our responsibilities on behalf of Canadians mean that we must manage risk responsibly and maintain financial stability so that we can continue to deliver results, and that’s what we have done in 2019,” said Evan Siddall, President and Chief Executive Officer. “That has put us on solid ground so that today –amid the evolving COVID-19 crisis ‒ we are not losing sight of our ultimate goal: that by 2030 everyone in Canada has a home they can afford and that meets their needs.”
CMHC also published business supplements on its Assisted Housing, Mortgage Insurance, Mortgage Funding, and Covered Bonds activities, providing additional depth and insights on each. As well, the 2019 stress test results are included in the annual report.
“In 2019 we have demonstrated commitment to the sound management of resources. This enables us to pay dividends to the Government while helping to create new and affordable housing for Canadians as well as promote market functioning through our Mortgage Insurance and Mortgage Funding activities,” said Lisa Williams, CMHC’s Chief Financial Officer.
Highlighted results below are as at December 31, 2019:
Facilitating access to housing while contributing to financial stability
Delivering the National Housing Strategy (NHS) Initiatives
Delivering results for Canadians
CMHC supports the housing market and financial system stability by providing support for Canadians in housing need, and by offering housing research and advice to all levels of Canadian government, consumers and the housing industry.
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