The CMHC Policy That Flopped

The CMHC Policy That Flopped

Back in January, CMHC raised its insured mortgage limit to $1.5 million. The idea? To help buyers in high-priced markets like Toronto and Vancouver. But here’s the kicker — it’s barely made a dent. Uptake is minimal, and only 2% of new insured loans in Q1 were for properties over $1 million. Why? Because most buyers at that price point don’t qualify for insured mortgages anyway, and affordability is still a major barrier. So while the policy grabbed headlines, the reality is it’s had almost zero impact on demand. Will that change if rates drop further?

Maybe — but for now, it’s just a headline, not a game changer. 👉 Curious if this applies to you? Let’s figure it out together.