DEFINITION of 'Canada Mortgage and Housing Corporation - CMHC'

An organization sponsored by the Canadian government that provides mortgage loans to home buyers. Started as a crown corporation, the Canada Mortgage and Housing Corporation offered housing to soldiers returning from WWII. Over time the CMHC evolved to also include the planning and development of housing projects in urban areas, as well as research into real estate trends.

BREAKING DOWN 'Canada Mortgage and Housing Corporation - CMHC'

While smaller than its United States counterpart, the CMHC is a valuable asset to both residential homeowners and cities. Canadian cities are able to borrow from the organization at low interest rates for the development of housing projects.

RELATED TERMS
  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Urban Development Act Of 1970

    Legislation through the U.S. Department of Housing and Urban ...
  3. Mortgage Rate

    The rate of interest charged on a mortgage. Mortgage rates are ...
  4. Reverse Mortgage

    A type of mortgage in which a homeowner can borrow money against ...
  5. Junior Mortgage

    A mortgage that is subordinate to a first or prior (senior) mortgage. ...
  6. Mortgage Originator

    A mortgage originator is an institution or individual that works ...
Related Articles
  1. Investing

    Short The Canadian Housing Bubble

    Canada's housing bubble presents serious risks for would-be real estate buyers and opportunities for investors comfortable with short-selling.
  2. Investing

    8 Signs Of A Real Estate Rebound

    Wondering when prices will start to turn around in your area? We'll show you how to get in the know.
  3. Financial Advisor

    Reverse Mortgages: Has Their Time Arrived?

    The perception of reverse mortgages is changing. They can be an integral part of a carefully crafted retirement plan.
  4. Investing

    Why Housing Market Bubbles Pop

    Home price appreciation is not assured. Can you withstand the volatility in this market?
  5. Personal Finance

    5 Reasons To Save For A Big Mortgage Down Payment

    You may be anxious to buy a home, but taking time to save a large down payment has numerous advantages.
  6. Personal Finance

    Mortgage Company

    A company engaged in the business of originating and/or funding mortgages for residential or commercial property.
  7. Investing

    Where's The Next Housing Bubble?

    Countries outside of the U.S. are showing definite signs of housing bubbles - but which will be the first to pop?
  8. Personal Finance

    Best 3 Mortgage Calculator Websites for Canadian Residents

    Here's an overview of the key features of Canadian mortgages, and a few of the best online mortgage calculators for Canadian home loans.
  9. Personal Finance

    Finding the Best Mortgage Rates in 2017

    As home-buying technology has progressed, the process of finding the best mortgages rates can all be done online. Here's how:
  10. Retirement

    Additional Streams of Income for Seniors

    Find out how a reverse mortgage can work in your favor during retirement.
RELATED FAQS
  1. What is an assumable mortgage?

    The purchase of a home is a very expensive undertaking and usually requires some form of financing to make the purchase possible. ... Read Answer >>
  2. How does a decline in housing prices affect the banking sector?

    Learn about the affects on banks when housing prices go down, including loan delinquency rates, mortgage foreclosures, and ... Read Answer >>
  3. Is it a good idea to add a reverse mortgage to your retirement strategy?

    A reverse mortgage can be a great way to increase retirement income. Does it work for everyone? What happens after a homeowner ... Read Answer >>
Trading Center