12. New Mortgage Rules Roughly 30% of mortgages last year had 35 yr amortization. Most were FTHB TD estimates the amortization decrease will impact 20,000 sales Amortization reduction will drop average affordability by 6-7% Roughly 10% of mortgages currently refi above 85% Current default rate of .42%
14. New Mortgage Rules Default rate below .5% CMHC Net Income $931M 71% of book is on loans with an LTV of less than 80% 9% return on securitization activity