OTTAWA, ON, May 6, 2026 /CNW/ - Canada Mortgage and Housing Corporation (CMHC) has released its 2025 Annual Report demonstrating in times of trade tensions and broader economic uncertainty, Canadians can continue to count on CMHC to provide stability to Canada's housing finance system.
Both homebuilders and homebuyers received continued support in 2025, as CMHC's commercial products facilitated the financing of over 361,000 housing units. This included continued strong demand for CMHC's multi-unit insurance products, facilitating the financing of 261,000 rental housing units. Of these units, 36% were new construction, helping make much needed rental housing projects more viable for homebuilders.
In 2025, CMHC provided mortgage loan insurance for more than 64,000 homebuyers, up from 49,000 in 2024. Of these homebuyers, 14% were in rural areas where CMHC is often the only mortgage loan insurance provider.
For housing programs, which CMHC administers on behalf of the Government of Canada, 2025 was an extremely successful year in delivering for Canadians, as CMHC significantly exceeded its annual delivery targets. This was driven by strong results in both the Apartment Construction Loan Program (ACLP) and the Affordable Housing Fund (AHF).
Since the launch of the ACLP and as of December 31, 2025, CMHC has committed more than $29 billion in low-cost loans to help build more than 74,500 new purpose-built rental units across Canada.
Between the ACLP and multi-unit mortgage loan insurance, CMHC supported most of the rental construction in Canada in 2025. If you see a crane on a residential building site in your community, chances are it's a project backed by CMHC.
Read CMHC's full 2025 Annual Report.
The CMHC Annual Public Meeting is available to watch on the CMHC web site.
Quotes:
"Housing supply remained one of Canada's greatest challenges in 2025. CMHC rose to meet this challenge head-on, putting all the organization's tools to work to make an impact in communities across the country. In 2026, CMHC marks 80 years of helping to house Canadians, a milestone that underscores our experience and our unique ability to tackle the challenges ahead."
-- Coleen Volk, CMHC President and Chief Executive Officer
"Despite challenging economic times, CMHC's commercial products and programs continue to meet the moment for Canadians. Whether it's a first-time homebuyer getting the keys to their new place, or a homebuilder adding much needed rental homes to their community, we are there to support Canadians' access to housing financing. In 2026, we will continue to manage our commercial business as the stabilizing force in Canada's housing finance system."
– Michel Tremblay, CMHC Chief Financial Officer and Senior Vice-President, Corporate Services
Highlights from CMHC Annual Report, as of December 31, 2025:
CMHC's total insurance-in-force stood at $471 billion, reflecting a $31 billion increase from 2024. This was driven by continued growth in our multi-unit insurance products.
The arrears rate, for all CMHC insured loans more than 90 days past due for homeowner and portfolio insurance products and 30 days past due for multi-unit insurance products, remained low at 0.32 % in 2025. This is consistent with pre-pandemic levels and reported delinquencies remain low in all regions.
CMHC guaranteed nearly $166 billion in mortgage-backed securities and $60 billion in Canada Mortgage Bonds in 2025, with preferential guarantee fees provided for mortgage-backed securities containing social housing loans or multi-family loans insured with a commitment to affordability.
Cumulative housing program highlights to December 31, 2025:
Since the launch of the Affordable Housing Fund (AHF) and as of December 31, 2025, CMHC has committed more than $14 billion in loans and contributions to help create 57,000 new affordable units and repair more than 174,000 units of community housing stock. This includes a $1.5 billion top-up to the AHF in September 2025, which CMHC was able to quickly disburse into the community to create more housing for Canadians.
The full Housing Design Catalogue was launched in October 2025. It provides over 50 standardized, regionally tailored designs to speed up homebuilding, cut costs and support affordability.
The Canada Greener Homes Loan program (CGHL), delivered in partnership with Natural Resources Canada, committed more than $3.1 billion for close to 131,000 loans. Approximately 92% of applicants have completed their retrofits and received final loan funding.
The Co-op Housing Development Program (CHDP) saw strong up-take in 2025, with CMHC committing $1.21 billion to support the creation of more than 2,700 new co-op housing units.
Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and a backbone institution of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions--including mortgage loan insurance and securitization--while providing trusted, unbiased data, research and market intelligence to inform policy and decision making. Through CMHC's national presence, deep expertise in housing economics and finance, and a system wide perspective, Canadians can count on a more stable, well-functioning housing market that supports households, communities and the broader economy.
Follow us on X, YouTube, LinkedIn, Facebook and Instagram.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
For more information contact: CMHC Media Relations, [email protected]
Share this article