Finance committee  Similarly, we've seen some lenders increase rates for a particular set of mortgages, say, mortgages with longer than 25-year amortizations. We have seen some lenders do that as well.

Finance committee  I would also add that I think there's an acknowledgement by the federal government with respect to the fact that they don't have all the levers when it comes to addressing the supply side. With regard to supply-side issues, back in June 2016, there was a federal-provincial-munici

Finance committee  As a federally regulated financial institution, we provide a tremendous amount of data already to the Bank of Canada and OSFI. It's not necessarily public, although some of it is. The federal authorities do have a pretty good lens as to what's going on in the federally regulated

Finance committee  I would say that the debt-to-income ratio is just one ratio amongst many that are available to analyze the housing market. For instance, you have the debt-to-income ratio, the “net-worth to income” ratio, and also the debt-to-asset ratio, which looks not just at the income of an

Finance committee  Because of that 90% guarantee and 10% excess risk, banks have to set aside additional capital to protect against that tail risk. Banks do set aside capital in that instance.

Finance committee  As I mentioned in my remarks, we have 59 banks as members. It's very diverse, from larger institutions to some smaller institutions. For the larger institutions, NHA MBS is a securitized vehicle. It's been getting a little bit more difficult over the last few years to use that mo

Finance committee  I would say that as federally regulated financial institutions, we speak to government stakeholders often—the Department of Finance, CMHC, OSFI. As regulated entities, we let them know what's going on in the marketplace. But to Rob's point, they don't present us with “Hey, this i

Finance committee  The federally regulated financial institutions such as banks provide them with our views. It's really up to the government to determine how to utilize those views.

Finance committee  I certainly have not seen that data. That data is not available publicly, so the answer right now is no.

Finance committee  Yes, probably, but I'm not sure if I've seen that aggregated. I don't know if anyone has really taken the time to do that and taken, sort of, an economy-wide, financial market-wide perspective of that.

Finance committee  We do collect that data. We've seen a slight uptick in mortgage arrears, but it's manageable and the same thing on the consumer delinquency side where we've seen an uptick there. Because the books of the Canadian banks are just so broad, so diverse, they can diversify that risk t

Finance committee  We don't collect those figures, but I don't imagine their being particularly high, given that the mortgages in arrears are just so low. Because the mortgages in arrears are the mortgages that would then be in default, but quite often we would.... In the instance of the insured mo

Finance committee  It's a close figure, a correlation. You mentioned applications; we look at mortgage credit growth. In 2008 mortgage credit growth was about 14% per year. That has declined to about 6%, so mortgage credit growth has slowed. In addition to that, the nature of that growth has chang

Finance committee  The CBA does collect data on mortgages in arrears. The mortgages-in-arrears rate right now is 0.28%. What that means is that about 1 in 350 mortgages is in arrears. You can compare that to the financial crisis, when that number went up to about 0.45% in Canada around 2008. In com

Finance committee  Thank you very much, Mr. Easter. Good evening, everyone. We would like to thank the committee for the opportunity to contribute to its study on the Canadian real estate market and home ownership. The Canadian Bankers Association works on behalf of 59 domestic banks, foreign ban