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.

RELATED TERMS
  1. Canadian Mortgage and Housing Corporation ...

    A division of the Government of Canada that acts as Canada's ...
  2. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  3. Housing Starts

    The number of new residential construction projects that have ...
  4. Urban Development Act Of 1970

    Legislation through the U.S. Department of Housing and Urban ...
  5. Canadian Rollover Mortgage

    A home mortgage with an adjustable rate feature. The Canadian ...
  6. Housing Expense Ratio

    A ratio comparing housing expenses to before-tax income that ...
Related Articles
  1. Managing Wealth

    4 Reasons Why the Housing Recovery Will Be Short-lived (LOW, HD)

    Evidence would suggest that the same culprits from 2008 and some new ones are re-inflating a housing bubble.
  2. Retirement

    How Does A Reverse Mortgage Work?

    A homeowner who’s at least 62 years old can use a reverse mortgage to tap into her home’s equity for money. The house serves as the loan’s collateral. The loan is repaid when the homeowner dies, ...
  3. Markets

    The Canadian Economy, At A Glance

    The 12 economic indicators described here together provide a comprehensive picture of the state of the Canadian economy.
  4. Personal Finance

    5 Ways an Open House Can Actually Hurt Your Home Sale

    Open houses have long been a way to get exposure for a home that's up for sale. But it turns out it may be more trouble than it is worth.
  5. Markets

    Best 3 Mortgage Calculator Websites for Canadian Residents

    Understand the key features of Canadian mortgages, and discover a few of the best online mortgage calculators for Canadian home loans.
  6. Retirement

    Additional Streams of Income for Seniors

    Find out how a reverse mortgage can work in your favor during retirement.
  7. Personal Finance

    Can I Afford a House in 2016?

    Start the homebuying process in 2016 before mortgage rates increase. More sellers are expected to list their homes, resulting in less competition for buyers.
  8. Personal Finance

    Mortgage Basics: Conclusion

    By Lisa SmithLet's recap what we've learned in this tutorial: At its most basic, a mortgage is a loan used to purchase a house. There are two primary types of mortgages: fixed rate and ...
  9. Personal Finance

    Comparing Reverse Mortgages vs. Forward Mortgages

    Which one a homeowner chooses depends on where you are at this point in your life, personally and financially.
  10. Markets

    Effect of Fed Fund Rate Hikes on the Housing Market

    Understand what drives the federal funds rate and why the Fed would increase that rate. Learn about the effect of a rate increase on the housing market.
RELATED FAQS
  1. Should we buy a new house or stay mortgage free?

    I have a house that is valued at $80,000. We would like to move, but because of this market we would break even. The home ... Read Answer >>
  2. What is the process to take over a mortgage through a loan assumption?

    My landlord wants me to take over her mortgage.  ... Read Answer >>
  3. 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 >>
  4. 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 >>
  5. What are the requirements to apply for a reverse mortgage loan?

    For homeowners of a certain age who wish to stay in their homes but are finding it costly, a reverse mortgage could be the ... Read Answer >>
  6. How have low interest rates affected the real estate sector?

    Learn how low interest rates stimulate the real estate sector by making it more affordable to borrow money to invest in real ... Read Answer >>
Hot Definitions
  1. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  2. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  3. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  4. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  5. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  6. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
Trading Center