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Launching an Insured Mortgage Purchase Program

As part of Canada’s COVID-19 Economic Response Plan, the Government of Canada has launched a revised Insured Mortgage Purchase Program (IMPP). Under this program, the government stands ready to purchase up to $150 billion of insured mortgage pools through CMHC. This action will provide stable funding to banks and mortgage lenders in order to ensure continued lending to Canadian businesses and individuals.

Reference: https://www.cmhc-schl.gc.ca/en/media-newsroom/news-releases/2020/cmhc-expands-insured-mortgage-purchase-program