OTTAWA, ON, Nov. 29, 2022 /CNW/ – Inflation and other economic conditions including higher interest rates continue to impact financial results for Canada Mortgage and Housing Corporation (CMHC) in the third quarter, as indicated in the Q3 2022 report released today.
The impacts of inflation and movements in interest rates are seen through declines in our investment portfolio and actuarial gains on our defined benefit plans. Unit volumes have decreased from the previous quarter for transactional homeowner and multi-unit products, as the market continues to adjust to higher interest rates.
“Despite some economic volatility, mortgage arrears remain low, supported by continued low unemployment,” said Michel Tremblay, CMHC’s Chief Financial Officer and Senior Vice-President, Corporate Services. “We remain in a stable position to withstand further interest rate volatility and will…
