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Chartered Banks Saw A Surge In Uninsured Mortgage Origination In Q3: CMHC

Author: 
Steve Huebl
Publication date:
January 26, 2022
Article Summary: 

Chartered banks in Canada witnessed a surge in mortgage origination in Q3, with uninsured mortgages driving the growth. These mortgages, usually taken by those with a down payment of over 20%, accounted for CAD 58bn ($45.5bn) of mortgages in the quarter, a YoY increase of 60% and almost double the volume in 2019. Over a quarter of those mortgages had a Total Debt Service ratio above 40%, according to the Canada Mortgage and Housing Corporation. The report also found that mortgage arrears continued to decline for all mortgage lenders.



Keywords: 

Chartered banks, mortgage originations, uninsured mortgages, non-bank lenders, mortgage finance companies, trusts, insurance companies, Canada Mortgage and Housing Corporation, Residential Mortgage Industry Dashboard, Total Debt Service ratio, arrears, low interest rates.



Source Citation: 
Steve Huebl
Chartered Banks Saw A Surge In Uninsured Mortgage Origination In Q3: CMHC
January 26, 2022
https://www.canadianmortgagetrends.com/2022/01/chartered-banks-saw-a-surge-in-uninsured-mortgage-origination-in-q3-cmhc/
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