Ms. Toor, Bill C-31 proposes increasing the CMHC's mortgage guarantee ceiling from $800 billion to $1 trillion—that's another $200 billion in potential capacity—yet the CMHC currently has only $577 billion in guarantees outstanding. If we're nowhere near the existing ceiling, what exactly is the additional $200 billion going to accomplish? Is the CMHC increasing it because developers are struggling to secure private financing?
