Latest news with #ColeenVolk
Cision Canada
20-06-2025
- Business
- Cision Canada
CMHC Releases Annual Report for 2024 Français
OTTAWA, ON, June 20, 2025 /CNW/ - Canada Mortgage and Housing Corporation (CMHC) today released its 2024 Annual Report demonstrating that Canadians can continue to count on CMHC as a stabilizing economic entity with a key role in bringing about housing solutions and hundreds of thousands of additional homes for Canadians. Despite challenging economic conditions, CMHC continued to deliver results in 2024 as demand for its commercial products surged. Demand for CMHC's multi-unit mortgage loan insurance products remained strong throughout 2024, supporting more than 283,000 housing units, an increase of 28.7% over 2023. Of those, 43 percent were new construction, an increase of 38% over 2023. CMHC saw continued strong uptake of its MLI Select mortgage loan insurance product which incentivizes developers to build more affordable rental units. The Corporation also saw an increase in its mortgage funding products which provide liquidity for mortgage lenders to support Canadians' access to mortgage financing. Its homeowner mortgage insurance helped Canadians buy more than 49,000 housing units across Canada. Through its commercial activities and the Government programs CMHC delivers, it helped create, repair and assist more than 500,000 homes in 2024. More than 118,000 of those homes are for Canadians in core housing need, and close to 300,000 units are in markets facing the greatest rental shortages. That's an increase of 40,000 units over 2023, exceeding its target by four percent. Of the units supported by CMHC in 2024, 48% are climate compatible, surpassing both its 25 percent target and 2023 results. The Corporation exceeded targets in delivering several federal housing programs, including the Apartment Construction Loan Program and the Affordable Housing Fund, which help builders get financing to build, repair or renew much-needed rental homes. Quote(s): "In 2024, CMHC demonstrated yet again that it can stay agile and remained the stabilizing force in turbulent times. CMHC's solid three-pronged approach spurs solutions to challenges across the housing landscape: commercial products, delivery of housing programs and unbiased housing research are all making a difference. It is working diligently with its many partners, including developers and builders, lenders, non-profit organizations and all levels of government toward a shared vision of a Canada where everyone has a home that they can afford and that meets their needs." — Coleen Volk, CMHC's President and Chief Executive Officer "CMHC continues to demonstrate it is an organization Canadians can count on, even in the most challenging economic times. In addition to incentivizing much needed housing supply and helping more Canadians buy homes. CMHC will continue to manage its commercial business as well as the public resources entrusted to it prudently for the benefit of all Canadians. – Michel Tremblay, Chief Financial Officer and Senior Vice-President, Corporate Services Highlights from CMHC Annual Report, as of December 31, 2024: Consolidated income before income taxes increased by $238 million, a 14% increase compared to 2023. This was due to several factors, such as increased investment income, and offset by other factors including higher operating expenses for higher multi-unit insurance volumes. At the end of 2024, CMHC's total insurance in force stood at $440 billion, representing an increase of $26 billion compared to is largely due to growth in multi-unit insurance, partially offset by decreases in homeowner insurance and portfolio insurance. CMHC provided guarantees for nearly $165 billion in National Housing Act mortgage-backed securities and $60 billion in Canada Mortgage Bonds, up 9% and 33.3% respectively, over 2023. In 2024, CMHC implemented Government reforms to mortgage rules to make mortgages more affordable for Canadians: increasing the $1 million price cap for insured mortgages to $1.5 million; and allowing 30-year mortgage amortizations for all buyers of new builds. CMHC expects to see further uptake in 2025. CMHC has suspended dividends to conserve capital in response to regulatory capital changes from the Office of the Superintendent of Financial Institutions taking effect January 1, 2026, and to respond to significant demand for multi-unit insurance products. Cumulative housing program highlights to December 31, 2024: More than $21 billion in loans committed through the Apartment Construction Loan Program to help build more than 56,000 new purpose-built rental units. Close to $11 billion committed through the Affordable Housing Fund to help create close to 42,000 new affordable units and repair more than 168,000 community housing units. More than $2.3 billion for close to 100,000 loans committed through the Canada Greener Homes Loan Program, delivered in partnership with Natural Resources Canada. About 77 percent of applicants have completed their retrofits and received final loan funding. Signed agreements with 215 municipalities under the Housing Accelerator Fund including commitments of more than $4 billion over four years that are expected to create more than 114,000 additional housing units. Delivered the new Co-op Housing Development Program, which will strengthen this integral part of the affordable housing space. The CMHC Annual Public Meeting is available to watch on the CMHC web site. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Its mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, it contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.
Yahoo
17-06-2025
- Business
- Yahoo
CMHC Launches 2025 Housing Research Awards
OTTAWA,ON, June 17, 2025 /CNW/ - Canada Mortgage and Housing Corporation (CMHC) today launched a new round of the annual Housing Research Awards competition. Accelerating Housing Supply Through Construction Innovation is this year's theme for the President's Medal for Outstanding Housing Research. This theme highlights the importance of research that will support innovation to help transform the construction industry, making it more efficient, sustainable and affordable. The goal is to foster a deeper understanding of scientific and technological advances in building concepts, new materials, techniques and practices that optimize the construction process, improve productivity, and deliver housing that is high performing and resilient. Examples of potential research topics include technology and automation that enhance project management and overall capabilities in design and construction; as well as offsite construction and pre-fabrication, including modular homes, mass timber housing, and panelized systems. Construction innovations addressing the challenges of geographical areas, such as the North, will also be considered. The Housing Research Awards recognize Canadian housing research, research training, knowledge mobilization and outreach activities that are impactful and innovative. This initiative helps to build and sustain Canada's culture of research-based housing knowledge across key fields, including the social sciences, humanities, health sciences, building sciences and beyond. The awards recognize outstanding housing research and provide monetary awards to help project teams to conduct further research, knowledge mobilization and outreach activities. CMHC administers this program on behalf of the Government of Canada as part of the National Housing Strategy (NHS). Three awards are provided annually: CMHC President's Medal for Outstanding Housing Research: Accelerating Housing Supply Through Construction Innovation- $25,000 Gold Roof Award for Housing Research Excellence - $12,500 Gold Roof Award for Knowledge to Action - $12,500 A panel of experts which may include representation from academia, as well as the private, public and not-for-profit sectors, will review the applications. Award recipients are selected using a rigorous set of criteria to identify projects with the greatest potential to produce the data and insights needed by decisionmakers to improve housing affordability and better address the housing needs of Canadians. "Through the 2025 Housing Research Awards, CMHC is supporting transformative, impactful research that will help create more homes faster. Innovation in the construction industry is an important tool to support the government's commitment to accelerate the housing supply. These awards are another way that CMHC is promoting new ideas in housing." —Coleen Volk, CMHC President and CEO The Housing Research Awards application portal opens today. Applicants have until September 12, 2025, to submit their proposals. Winners will be selected later this year. CMHC delivers programs under the National Housing Strategy (NHS), Canada's 10+year $115+billion plan to give more Canadians a place to call home. The NHS covers the entire housing continuum, from shelters and transitional housing to community and affordable housing to market rental and homeownership. Progress on the achievement of NHS targets is reported online. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Its mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, it contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable. Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram. SOURCE Canada Mortgage and Housing Corporation (CMHC) View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
17-06-2025
- Business
- Cision Canada
CMHC Launches 2025 Housing Research Awards Français
OTTAWA,ON, /CNW/ - Canada Mortgage and Housing Corporation (CMHC) today launched a new round of the annual Housing Research Awards competition. Accelerating Housing Supply Through Construction Innovation is this year's theme for the President's Medal for Outstanding Housing Research. This theme highlights the importance of research that will support innovation to help transform the construction industry, making it more efficient, sustainable and affordable. The goal is to foster a deeper understanding of scientific and technological advances in building concepts, new materials, techniques and practices that optimize the construction process, improve productivity, and deliver housing that is high performing and resilient. Examples of potential research topics include technology and automation that enhance project management and overall capabilities in design and construction; as well as offsite construction and pre-fabrication, including modular homes, mass timber housing, and panelized systems. Construction innovations addressing the challenges of geographical areas, such as the North, will also be considered. The Housing Research Awards recognize Canadian housing research, research training, knowledge mobilization and outreach activities that are impactful and innovative. This initiative helps to build and sustain Canada's culture of research-based housing knowledge across key fields, including the social sciences, humanities, health sciences, building sciences and beyond. The awards recognize outstanding housing research and provide monetary awards to help project teams to conduct further research, knowledge mobilization and outreach activities. CMHC administers this program on behalf of the Government of Canada as part of the National Housing Strategy (NHS). Three awards are provided annually: A panel of experts which may include representation from academia, as well as the private, public and not-for-profit sectors, will review the applications. Award recipients are selected using a rigorous set of criteria to identify projects with the greatest potential to produce the data and insights needed by decisionmakers to improve housing affordability and better address the housing needs of Canadians. "Through the 2025 Housing Research Awards, CMHC is supporting transformative, impactful research that will help create more homes faster. Innovation in the construction industry is an important tool to support the government's commitment to accelerate the housing supply. These awards are another way that CMHC is promoting new ideas in housing." —Coleen Volk, CMHC President and CEO The Housing Research Awards application portal opens today. Applicants have until September 12, 2025, to submit their proposals. Winners will be selected later this year. CMHC delivers programs under the National Housing Strategy (NHS), Canada's 10+year $115+billion plan to give more Canadians a place to call home. The NHS covers the entire housing continuum, from shelters and transitional housing to community and affordable housing to market rental and homeownership. Progress on the achievement of NHS targets is reported online. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Its mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, it contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.
Associated Press
03-03-2025
- Business
- Associated Press
CMHC Announces Housing Research Award Winners
OTTAWA, ON, March 3, 2025 /CNW/ - Canada Mortgage and Housing Corporation (CMHC) today announced the recipients of the 2024 Housing Research Awards. The awards recognize research excellence and provide funding to support work that will generate the data and insights needed to address housing challenges in Canada. An initiative under the National Housing Strategy, the Housing Research Awards recognize outstanding Canadian housing research and provide monetary awards to help project teams to further research, knowledge mobilization and outreach activities that are innovative and impactful. The Housing Research Awards help to build and sustain Canada's culture of research-based housing knowledge across key fields, including the social sciences and humanities, health, and technology. CMHC administers the program on behalf of the Government of Canada. A multi-disciplinary panel of experts reviewed the applications following a rigorous set of criteria to identify projects with the greatest potential to produce the data and insights needed by decision-makers to improve housing affordability and better address the housing needs of Canadians. Quote: 'Thank you to all of those who submitted their work for the 2024 Housing Research Awards, and congratulations to our winners. Your impactful research is essential to addressing housing challenges in Canada. Better information means better housing policy—and more affordable homes for those who need them most.' — Coleen Volk, CMHC President and CEO Awards: CMHC President's Medal for Outstanding Housing Research ($25,000) This is the highest Housing Research Awards honour, recognizing a significant research contribution that helps achieve the aspiration of making housing affordable for everyone in Canada. The medal is presented to a team or an individual who has researched one of the NHS priority areas. The focus for the 2024 President's Medal was: Improving the Financial Viability and Sustainability of Affordable Housing in Canada. Recipient: Daniel Dicaire, Ottawa Community Housing Corporation for the project Sustainable Affordable Housing Total Cost of Building Ownership Analysis. The OCH research team (Daniel Dicaire, and research partners Gordon Downes, Dylan Bennett, Arne Suraga and Rehanna Devraj-Kizuk) used a template 20-storey building and examined five different energy performance scenarios, ranging from built to code or above, to determine which one is more the most economical and sustainable approach in the long term. They used comprehensive energy and economic modelling to examine and compare the assessed value of factors such as energy performance, capital, maintenance and repair and as well as operating costs. With accurate estimates, including initial construction cost and annual operating costs for each scenario over the next 60 years, the team was able to compare the total cost of building ownership for each of the scenarios on equal footing and show which is more economical and sustainable over the long term. Gold Roof Award for Housing Research Excellence ($12,500) This award recognizes research that improves our understanding in one of the priority areas of the NHS and leads to impacts within the academic or housing sector. Recipient: Keagan Rankin, University of Toronto for the project: Providing Affordable Housing Within Climate Limits: A Model of Sustainable Future Growth. Keagan Rankin and research partner Shoshanna Saxe set out to answer the question: 'How can Canada build the housing it needs while staying within environmental sustainability limits?' They note that while housing supply must increase by 3.5 million additional units by 2030 to restore affordability, as indicated by CMHC, even current volumes of construction will make it challenging for Canada to meet its sustainability goals. The team gathered extensive data and created a new modelling technique to simulate the construction of future neighbourhoods to determine how 3.5 million additional homes could be built by 2030 while staying within acceptable climate limits. Gold Roof Award for Knowledge to Action ($12,500) This award recognizes projects that link excellent research to real actions that are making a difference in the housing sector. Recipient: James Dunn, McMaster University for the project: The City of Hamilton's Housing Sustainability and Investment Roadmap (HSIR). In June 2022, the City of Hamilton and the Canadian Housing Evidence Collaborative (CHEC) began a research-to-action initiative to develop an evidence-based strategic implementation framework to guide the city's affordable housing efforts. The project was led by James Dunn of McMaster University, with research partners Steve Pomeroy of CHEC and a team from the City of Hamilton. Their HSIR takes a cross-sectoral approach to address housing issues in Hamilton, across four HSIR pillars: new construction; acquisition; preservation; and housing-based supports such help for those facing mental health challenges. It was adopted by Hamilton City Council in April 2023 and implementation is ongoing, leading to a significant impact in the city. Additional Information: The application portal for the 2025 Housing Research Awards will open this summer. Researchers will be able to apply for funding that recognizes innovative and impactful research, training knowledge mobilization and outreach relevant to housing in Canada. Visit our web site for more information on the Housing Research Awards. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. We actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility.
