CMHC's Story

Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada’s housing system.

The Foundation of Canada’s Housing System

For 80 years, we have opened doors for Canadians. In good times and bad, and in every part of Canada, we support a well-functioning, resilient and stable housing market.

CMHC is Canada’s trusted source for housing finance solutions and unbiased thought leadership. Our primary focus is on market housing, home to 95% of Canadians. We also strengthen the federal government’s non-market housing priorities.

Transcript

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[Speaker: Male Narrator]

For 80 years, CMHC has been opening doors for Canadians.

[Visual: Text reads, “For 80 years.” The text moves apart, revealing two people shaking hands in the entrance to an office building.]

We’re the foundation of Canada’s housing system.

[Visual: A montage of black-and-white archival images scrolls past: a woman working on a scale model of a single family home, an article titled “CMHC Celebrates Canada’s Millionth Post-War House,” children playing outside a row of post-war-style houses, a woman working a desk in front of shelves full of documents, a row of houses on a street, Inuit people standing in front of modular homes in the Arctic, a drawing of a single family home, Habitat 67, and a colour image of a smiling woman taking a file holder off a shelf next to another smiling woman.]

Stable, resilient, and built to last.

[Visual: The word “Stable” appears in front of a concrete building frame with a crane on each side. The word “Resilient” appears across a black-and-white photo of CMHC’s office building. The words “Built to Last” appear in front of a colour photo of CMHC’s red-brick office building.]

Our mortgage loan insurance products have helped millions of Canadians buy homes and ensured mortgage funding flows in good times and bad.

[Visual: The words “Tools and Services” are typed into a search bar. The search bar disappears, replaced by a man peering at a computer screen. The screen splits, and next to the man, a woman’s hand holds a multi-page document open, while her other hand lowers a pen towards the signature line.]

Our research drives change, turning insights into solutions.

[Visual: The words “Research, insight, action.” appear in front of a man working at a desk. The screen splits, and next to the man is a monitor displaying computer code. A hand holding a stylus navigates a complex information dashboard on the monitor.]

Powered by an extensive partnership network across the country, we are focused on market housing, which is home to 95% of Canadians.

[Visual: The words “Working together.” appear in front of a smiling man shaking hands with people around a conference table. Vehicles drive down a street between high-rise condominium buildings. The words “Strengthening Canada’s housing system.” appear in front of downtown Calgary. The sun shines on a black condo building.]

Because for 80 years, CMHC has been here for Canada.

[Visual: A young woman walks through a busy office. A man carries a briefcase down a corridor. Two professionals shake hands in a bright business lounge.]

And we’ll continue to be here when Canadians need us most.

[Visual: The Canada wordmark appears next to the CMHC logo.]

Our Values

CMHC Through the Years

CMHC was created in 1946 to solve a national housing crisis and is now among Canada’s largest financial institutions. Since its creation, CMHC has contributed to half of all homes built in Canada. Over our long history, we have built an extensive network of partners, establishing a strong national reach across the housing system.

1940s

1946 – Central Mortgage and Housing Corporation is established by an Act of Parliament to house returning war veterans.

1947 – CMHC publishes 67 Homes for Canadians design catalogue, shaping house design for the next two decades.

1947 – Monthly tracking of construction starts and completions begins, providing data to governments, industry and financial markets.
1950s

1950 – Newfoundland and CMHC sign the first federal/provincial social housing project to offer rents geared to income.

1954 – CMHC introduces Mortgage Loan Insurance, making home ownership accessible to more Canadians by reducing lender risk and lowering down-payment requirements.

1956 – The one millionth post war home is completed.
1960s

1966 – The first cooperative housing project in Canada is built in Willow Park, Winnipeg.

1967 – Habitat at Expo 67, supported by CMHC, receives world acclaim as a bold, futuristic concept of urban living.

1967 – Wood frame construction is exported abroad with CMHC's first international project to construct 137 homes in Harlow, England.
1970s

1973 – CMHC is granted responsibility of Granville Island, Vancouver.

1974 – The Residential Rehabilitation Assistance Program is introduced to help homeowners and landlords restore homes, including in First Nations communities.

1979 – Name is changed to Canada Mortgage and Housing Corporation.

1979 – Canadian Housing Information Centre is created – now known as the Housing Knowledge Centre, Canada's largest housing library.
1980s

1983 – CMHC receives the UN Peace Medal for promoting a better understanding of housing, building and planning at the Economic Commission for Europe.

1984 – CMHC begins offering Mortgage-Backed Securities for residential mortgages.

1987 – CMHC’s Market Analysis Centre begins tracking local, provincial, regional and national housing markets.

1988 – The first CMHC National Housing Awards celebrates "Innovations in Housing for Seniors.”
1990s

1995 – CMHC.ca is launched, providing Canadians and the industry with easy access to reliable, objective housing information.

1996 – Our first online automated underwriting system, emili, improves approval times from days to seconds.

1998 – CMHC's Client Service Centre and 1-800 Call Centre opens to provide housing information to consumers across Canada.

1999 – Later known as CMHC International, the Canadian Housing Export Centre starts sharing Canada's housing expertise with the world.
2000s

2001 – Canada Mortgage Bonds are introduced to lower borrowing costs for residential mortgages and ensure stability for lenders across economic cycles.

2003 – The first issue of the Canadian Housing Observer is published, providing insights and information on the state of Canada's housing industry.

2003 – The Federal-Provincial affordable housing program is launched to improve affordable housing supply.

2007 – The First Nations Market Housing Fund is announced, providing access to financing for on-reserve home purchase or renovations.

2008 – In response to the global financial crisis, the federal government introduces emergency measures including the Insured Mortgage Purchase Program, which supported financial institutions and the economy through the purchase of insured mortgage pools.
2010s

2012 – CMHC takes over the responsibility for administering the new legal framework for Canadian covered bonds.

2014 – CMHC launches the Housing Market Information Portal, offering free access to the latest housing market data.

2017 – The federal government launches major initiatives of its landmark National Housing Strategy, including what would become the Apartment Construction Loan Program, the Affordable Housing Fund and many others.
2020s

2020 – In response to the COVID-19 pandemic, the federal government launches initiatives to respond to urgent housing needs and to ensure stability.

2022 – CMHC releases its first Housing Supply Gaps Report, showing the scale of Canada’s housing shortage and shaping the conversation on supply.

2024 – CMHC launches its first Reconciliation Action Plan, providing a roadmap for our work to advance reconciliation with First Nations, Inuit, and Métis people.

2024-25 – CMHC gains new federal partners – Housing, Infrastructure and Communities Canada and Build Canada Homes – and refocuses on supporting market housing supply and affordability challenges.