Thank you, Mr. Chair.
I have a very specific question now about the process, which is obviously more in your department.
I've anecdotally heard examples of groups or organizations that have gotten through the painful process, gotten the funding agreement—it was a loan or whatever it might be. Then, of course, this year has been a difficult year for interest rates.
They got the approval at the beginning of the year. By the time they were able to get everything ready with shovels in the ground and the money starting to flow, the interest rate changed. CMHC committed the funds, but the interest rate was not committed at the time of commitment. The change in the interest rate at the beginning of the flowing of funds was enough of a change that the project didn't make sense any more.
It's a very specific example, but have you addressed that situation? I assume CMHC has some capacity to play with interest rates a little bit more than a bank might.