Thank you.
In your opening statement, you said: “The Supplementary Estimates also provide information on a $50 million non-budgetary initiative for CHMC's Insured Mortgage Purchase designed to stimulate housing construction.”
When a person who does not have a lot of money does business with CHMC for his mortgage, he always pays more. CHMC is more expensive than a bank or a caisse populaire.
What is an insured mortgage purchase program? If people have a loan at 6.5%, can they renegotiate their rate with CHMC? Could CHMC grant them a loan at the current market rate, which is approximately 1.95%?