How will mortgage insurance fare amid the coronavirus?

Canada Mortgage and Housing Corporation (CMHC) claims that despite the current Covid pandemic the mortgage insurance business will stand strong. The CMHC is committed to providing affordable housing for Canadians while making sure they pay their fair share to the government. We all want this epidemic to be over soon but the CMHC wants to make sure that by 2030 every Canadian has their home needs met without having to stress about their finances every day.

Key Takeaways:

  • While the coronavirus is negatively impacting a lot of areas, mortage insurance is likely to remain stable.
  • Because 2019 was such a good year, the mortgage insurance industry has a solid foundation right now.
  • Mortgage insurers remain committed to helping Canadians afford homes, even during this crisis.

“The year saw the Crown corporation providing mortgage insurance to almost 100,000 homeowners, as well as to more than 127,000 rental units”

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