Mortgage insurance means different things in Canada. Here’s how CMHC insurance, mortgage life insurance, and personal policies compare - and which one might actually protect you.

In July 2025, Canada shed 41,000 jobs (the worst performance in over three years) driving the unemployment rate to 6.9%. Analysts from BMO, CIBC, and Capital Economics say the weakness increases the odds of a Bank of Canada rate cut on September 17, now priced at 38–40% probability, with markets expecting two cuts before year-end. U.S. inflation at 2.7% and falling Canadian bond yields suggest mortgage rates could drop soon.