House price overvaluation is now present in only six markets, rather than eight
Much of the increase stemmed from single detached homes started in urban areas in Ontario
An increase in multiple-dwelling projects offset a decline in single-detached construction, CMHC says
The changes reflect new regulatory requirements that require mortgage insurers to hold additional capital
Toronto sees decline
The mortgage insurance agency says its Canadian arrears rate fell slightly over the year but remains at about one-third of 1% of its portfolio.
Slower activity in oil-producing provinces will be partly offset by increased activity in B.C. and Ontario
A rapid increase in home prices this year and overvaluation are responsible for the high level of risk in Toronto
New starts and building permits up, says CMHC
The risk of overvaluation is most evident in Montreal and Quebec City