Final week to provide feedback on proposed changes to the Canada Mortgage Bonds program

This week marks the final week of the consultation period for proposed changes to the Canada Mortgage Bonds (CMB) program, which aims to consolidate the CMB program into the government's general debt program. The goal is to reduce borrowing costs and direct savings into affordable housing projects. Some stakeholders have expressed concerns about potential hidden costs and disruptions to the stability of CMBs. The government plans to use the savings to continue purchasing National Housing Act Mortgage-Backed Securities from Canadian mortgage lenders and to provide funding to mortgage lenders at a cost in line with the current CMB program. The consolidation is expected to take approximately 10 years, and the government has invited feedback from industry stakeholders before finalizing its plans in the fall.