Insured Mortgage Purchase Program (IMPP)

As part of the IMPP, the Government will purchase up to $150 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). The objective of the IMPP is to provide financial market liquidity to ensure continued lending to businesses and individuals. The IMPP was last used in 2008 2010. PBO estimates the total net savings of this measure to be $13 million in 2019-20 and $428 million 2020-21. The time horizon for this costing is aligned to PBO’s current Economic and Fiscal Scenario, although there may be potential fiscal impacts for subsequent years.