Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Canada  + Cross Border News  + Multi-residential Housing  | 
The number of Canada Mortgage and Housing Corporation-backed multi-residential property mortgages continued to rise in the third quarter.

Federally Insured Multi-Family Mortgages Booming

Canada Mortgage and Housing Corporation-backed multi-residential property mortgages are booming due to increased development.

CMHC-backed multi-family mortgages jumped 45% year-over-year to $12.32 billion in the second quarter, the federally owned company said in a news release. In the second quarter of 2022, CMHC insured $8.48 million in multi-residential property mortgages.

By comparison, individual homeowner-unit mortgage insurance volumes sank 37% year-over-year in the second quarter of 2023 due to higher house prices and interest rates.

“With continued growth forecast in rental housing demand, CMHC continues to forecast growth in its multi-unit loan insurance,” said the Crown corporation.

CMHC is Canada’s only insurer of multi-unit residential mortgages. The corporation has temporarily reduced dividend payments to the federal government to boost the growth and sustainability of purpose-built supply.

The reduction totalled $250 in the second quarter of 2023, CMHC said. The national mortgage-arrears rate remained stable at 0.25%.

The number of mortgages in arrears fell to 3,660 from 3,911 a year earlier.


Inside The Story

CMHCMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Development
  • ◦Policy/Gov't
New call-to-action