A Step Toward Homeownership: CMBA-National Welcomes Budget 2026 Mortgage Measures

Press release. The following was issued by the Canadian Mortgage Brokers Association (CMBA-National) and is published as received. Canada News Media did not write or edit it. Read our guide: Budget 2026 explained: what it means for your wallet.

FOR IMMEDIATE RELEASE

CMBA-National says new federal mortgage measures will help more Canadians become homeowners and stands ready to work with Ottawa on the next steps.

OTTAWA, ON (November 6, 2026) – The Canadian Mortgage Brokers Association (CMBA-National) is welcoming the housing and mortgage measures in Budget 2026, calling them positive steps toward making homeownership more attainable for Canadians.

Released on November 5, the federal budget proposes to expand access to insured mortgages for first-time buyers and purchasers of newly built homes, make it easier to finance new multi-unit housing, and give Canadians more public information regarding rates and penalties for insured mortgages.

The budget follows CMBA-National’s advocacy on Parliament Hill in October, where its leadership met with federal decision-makers to call for mortgage reforms that make homeownership more affordable.

“Our focus has always been affordability, and it still is,” said Jessica Rickerby, President of CMBA-National. “This budget shows the government is listening. These are small, yet practical changes that will help Canadians who can afford a monthly mortgage payment but have been held back by the rules. We are glad to see Ottawa taking these steps.”

Under current rules, a first-time buyer putting 20 per cent down on a $1.2 million home cannot get mortgage insurance, because optional insurance is capped at $1 million. That leaves them paying higher, uninsured interest rates. Under Budget 2026, that same buyer would be able to access competitive insured rates, which are typically lower, along with a 30-year amortization, bringing down their monthly payments.

Starting February 1, 2027, the budget also removes the price cap and owner-occupancy requirement for insured financing on newly built three- and four-unit homes and allows private insurers to compete with CMHC to insure properties with five to 50 units. CMBA says these measures will help bring more housing to market and give Canadians more choice.

CMBA-National says these measures also show the important role mortgage brokers play in unlocking housing. Brokers help Canadians across the country connect with lenders, understand their options and find financing that fits their budget. As more borrowers become eligible for insured mortgages and more insurers and lenders compete for their business, brokers will be on the front lines helping Canadians make the most of these changes.

“Mortgage brokers are often the first people Canadians speak to when they start thinking about buying a home,” said Rickerby. “We see every day how the rules affect real families. More competition, clearer information and broader access to insured mortgages all help brokers do what they do best: getting Canadians into homes they can afford.”

CMBA-National welcomes the government’s commitment to consult industry and stakeholders on future reforms. “These measures are a strong step forward, and we want to help get the details right,” added Rickerby. “Mortgage brokers bring real-world experience from every corner of the country. We are ready to work with the government to make sure these changes deliver for Canadians, and to keep building on them.”

-30-