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Adopter Details Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation (CMHC) plays an important part of Canada's housing finance system. CMHC’s research, thought leadership, and commercial operations make CMHC a vital contributor to housing system sustainability and stability. CMHC is driven by one goal: ensuring everyone living in Canada has a place to call home.

Organization type

  • Government - Federal

Website

Country

  • Canada

Related priorities

This adopter has contributed to the following priorities and target outcomes of the National Financial Literacy Strategy: 

Priority 1

Communicate in ways people understand

  • Target outcome 1.1
  • Target outcome 1.2
  • Target outcome 1.3
Related headlines
Headline

The costs of homebuying are unclear to many.

Unclear or confusing costs can lead to unexpected financial strain and stress when buying a home. Having a clear understanding of all the costs involved in buying a home is essential to make an informed financial decision, create an effective budget, and avoid unexpected debt.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Source: Canadian Financial Capability Survey, Mortgage Consumer Survey
Related findings
Finding

35% of buyers reported experiencing unexpected costs during the homebuying process. Immediate repairs were the most reported unexpected expense, followed by lawyer fees.

Initiative: Mortgage Consumer Survey

Adopter: Canada Mortgage and Housing Corporation
Finding

35% of homebuyers paid more than what they had planned.

Initiative: Mortgage Consumer Survey

Adopter: Canada Mortgage and Housing Corporation
Finding

51% of homebuyers said that they discussed unexpected costs with their mortgage professional.

Initiative: Mortgage Consumer Survey

Adopter: Canada Mortgage and Housing Corporation
Finding

Nearly 80% of recent homebuyers believed that they understood how much mortgage they could afford.

Initiative: Mortgage Consumer Survey

Adopter: Canada Mortgage and Housing Corporation
Related measures
Use the Opens in new tabMeasures Library to search for Strategy-Aligned Measures (SAMs) that help stakeholders in the financial ecosystem track progress toward achieving the National Strategy’s target outcomes.
Related initiatives
Initiative

Mortgage Consumer Survey

Surveying over 4,000 Canadians, this tool has helped understand consumers’ thoughts, attitudes and behaviours regarding homeownership and the process of obtaining a mortgage.
Opens in new tabBecome an adopter

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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