CMHC’s Fall 2023 Residential Mortgage Industry Report

This blog post from CMHC provides insights from their Fall 2023 Residential Mortgage Industry Report. It highlights the changing landscape of the Canadian residential mortgage market, with a decline in home sales impacting new mortgage activity. The report also reveals a shift in consumer behavior, with Canadians favoring longer mortgage terms and extended amortization periods. Additionally, the report discusses debt concerns, particularly with auto loans, and the increasing vulnerability of the housing finance system. Traditional lenders experienced a slowdown in mortgage activity, while alternative lenders increased their market share. Overall, this resource offers valuable information for housing stakeholders. Topics covered include changing home sales, consumer behavior, debt challenges, traditional and alternative lenders.