{"id":"helping-canadians-get-affordable-mortgage","slug":"helping-canadians-get-affordable-mortgage","title":"Helping Canadians get an affordable mortgage","chapter":3,"section":"3.2","section_title":"Providing a bridge to tomorrow","heading":"Helping Canadians get an affordable mortgage","in_cost_table":true,"capital":true,"fiscal":{"unit":"CAD millions","basis":"accrual, incremental impact on budgetary balance (expense or forgone revenue)","years":["2026-27","2027-28","2028-29","2029-30","2030-31"],"gross":[null,6.0,4.0,4.0,0.0],"gross_total":13.0,"flags":["none",null,null,null,null],"adjustments":[],"net":[null,6.0,4.0,4.0,0],"net_total":13.0,"table":{"pdf_page":233,"printed_page":219}},"description":null,"commitments":[{"text":"Budget 2026 proposes several measures to make this process easier and more transparent, while giving Canadians greater choice and flexibility when shopping for a mortgage: Budget 2026 proposes to establish new regulations to enhance publicly available information on insured mortgage rates, to be published by the Bank of Canada.","pdf_page":221,"printed_page":207,"quote":"Budget 2026 proposes several measures to make this process easier and more transparent, while giving Canadians greater choice and flexibility when shopping for a mortgage: Budget 2026 proposes to establish new regulations to enhance publicly available information on insured mortgage rates, to be published by the Bank of Canada."},{"text":"Budget 2026 proposes to amend the Canada Revenue Agency Act to provide the Canada Revenue Agency (CRA) with the authority to enter into agreements with mortgage lenders and mortgage insurers to provide an income verification service.","pdf_page":222,"printed_page":208,"quote":"Budget 2026 proposes to amend the Canada Revenue Agency Act to provide the Canada Revenue Agency (CRA) with the authority to enter into agreements with mortgage lenders and mortgage insurers to provide an income verification service."},{"text":"Budget 2026 proposes to provide $13 million to the CRA over three years, starting in 2027-28, to develop and pilot the service.","pdf_page":222,"printed_page":208,"quote":"Budget 2026 proposes to provide $13 million to the CRA over three years, starting in 2027-28, to develop and pilot the service."},{"text":"Budget 2026 proposes to amend mortgage insurance rules to raise the home price limit for optional mortgage insurance from $1 million to $1.5 million and permit 30-year amortisations for these insured mortgages, provided that at least one borrower is a first-time home buyer or the home is newly built.","pdf_page":222,"printed_page":208,"quote":"Budget 2026 proposes to amend mortgage insurance rules to raise the home price limit for optional mortgage insurance from $1 million to $1.5 million and permit 30-year amortisations for these insured mortgages, provided that at least one borrower is a first-time home buyer or the home is newly built."},{"text":"Budget 2026 announces the government's intention to consult industry and stakeholders on potential reforms to improve transparency around prepayment penalties for insured mortgages.","pdf_page":222,"printed_page":208,"quote":"Budget 2026 announces the government's intention to consult industry and stakeholders on potential reforms to improve transparency around prepayment penalties for insured mortgages."}],"amounts_in_text":["$13 million","$1 million","$1.5 million"],"source":{"pdf_page":221,"printed_page":207,"chapter_url":"https://budget.canada.ca/2026/report-rapport/chap3-en.html#a8"},"money_type":"spending","involves_loans":false,"lenses":["housing"],"url":"https://budget2026.warreandvavasour.com/measures/helping-canadians-get-affordable-mortgage/","chapter_title":"A more affordable life"}