CMHC, which holds the vast majority of Canadian mortgages on its books via underwritten insurance policies, has published the results of its latest stress test. In each case, the CMHC passed its own stress test — which means its finances would be able to withstand the damage. "That's the goal of our stress testing — to measure how we would stand up to these unlikely shocks. In all cases, this year's stress testing shows we are well capitalized to handle these very severe situations." That dire scenario would also see the jobless rate rise to 12 per cent.

Source: CBC News October 18, 2017 20:08 UTC