2022 by the numbers
Highlighted results below are as at December 31, 2022
housing units were purchased with the help of CMHC homeowner insurance products
rental units insured in 2022 were approved for MLI Select
of affordability-linked NHA Mortgage Back Securities were issued by approved issuers in 2022
households in need received help through the National Housing Strategy
new units have been committed through the Rental Construction Financing initiative
affordable units created through the support of the Rapid Housing Initiative
From a corporate perspective
The National Housing Strategy
CMHC continues to deliver on National Housing Strategy and as of December 2022, targets are being met or exceeded. Future years' outcomes will be closely monitored due to the present economic environment. We’ll continue to provide policy advice on matters related to the National Housing Council and Federal Housing Advocate and capacity building initiatives aim to further progress realization of international right to adequate housing.
Climate change is impacting housing affordability. It’s revealing the need for more sustainable solutions. CMHC has established initiatives to reduce energy consumption, promote climate compatibility and resilience of existing and new multi-unit housing, and remove barriers to climate compatible community development. We’ve also explored finance solutions to address climate-related risks, adopted the Task Force on Climate-related Financial Disclosures framework and consulted on expectation to advance climate risk management through Guideline B-15.
Our Enterprise Risk Management Framework
2022 was marked by a hard economic environment with many sources of financial and macroeconomic stress. CMHC uses its Enterprise Risk Management Framework to identify, assess and manage risks according to its risk appetite. Stress testing through the Framework showed that CMHC would remain financially capable to reach objectives under severe scenarios.
Anti-Racism and Equity
CMHC has undertaken a sustained effort to address discrimination and inequities in the housing system. In 2022, $50 million in funding was made available for Black-led organizations to build housing and creating Solutions Labs to help find housing solutions with and for racialized communities. We also implemented tools to improving data-driven decision making, we’ve increased vendor diversity programming, we have supported anti-racism initiatives and priorities and piloted an anti-racism tool, using Gender-based Analysis plus (GBA+).
Spotlighting the end results
Award-winning study digs deeper into the issue of Indigenous homelessness
An Indigenous-led project uncovered 59% of Surrey's Indigenous population without adequate housing are families with children. Solutions to Indigenous child poverty in Surrey were explored, utilizing Indigenous knowledge and lived experience.
Game-changing investment helps Canadian families
CMHC and Habitat for Humanity Canada have partnered to construct 400 new affordable homes through the National Housing Co-Investment Fund. The 3-year $32.4 million agreement bridges a gap for those unable to qualify for a traditional mortgage and has given 226 families a place to call home.
Micro-home community addresses housing crisis and builds pride
New tiny home community at Two Nations Crossing in New Brunswick consists of 96 homes arranged in 8 neighbourhood blocks, including retail store, café and construction space. Residents receive personal development and progressive employment opportunities, such as food/retail industries, entrepreneurship and more.
CMHC’s partnership with credit union tackles housing affordability
CMHC and VanCity joined forces to invest $6 million into the Vancity Affordable Housing Accelerator Fund, enabling the creation of 2,500 rental homes in the Lower Mainland of Vancouver. The project received $500,000 in pre-construction financing from the Fund and $48.5 million through the Rental Construction Financing initiative.