News Formal

CMHC’s first-quarter earnings increase to $394 million despite dip in revenues

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 80%

United States News News

United States United States Latest News,United States United States Headlines

Revenue totalled $1.48 billion, down six per cent from $1.58 billion last year

OTTAWA — Canada Mortgage and Housing Corp. says its net income increased to a more normalized rate in the first quarter as the country’s economy continued to modestly improve.

. The decrease is largely attributable to lower government funding and a net gain from a significant rebound in equity markets. CMHC says it invested $777 million on behalf of the government to create and support housing for low- and middle-income Canadians, down from $1.02 billion a year ago, provided mortgage insurance for more than 39,000 homes and provided $39 billion in guarantees through mortgage funding activities.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RBC and TD see investment-banking rebound as earnings top expectationsGrowth from domestic retail operations relatively tame with higher loan loss provisions They do business with Trump so they don't get my business
Source: nationalpost - 🏆 10. / 80 Read more »