Canada Mortgage and Housing Corporation - CMHC

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.

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