The mortgage insurance agency said higher investment earnings and lower insurance claims help boost its profits for its first quarter.
CMHC's total insurance-in-force for the quarter ended
The overall arrears rate was 0.35 per cent at
Last week, the agency predicted the country's housing market will continue to slow, but said it sees no major crash coming.
CMHC said in its latest forecast that the market will continue to weaken this year, before stabilizing.
The agency forecasts housing starts will range between 172,300 and 189,900 for a midpoint prediction of 181,100 this year, down from 187,923 in 2013 and 214,827 in 2012.
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