National delinquency rate drops but continues to rise in Ontario and BC

Ottawa, November 19, 2025

While the national mortgage delinquency rate decreased in the second quarter of 2025 for the first time in three years to 0.22%, pockets of financial stress remain, particularly in Ontario. This according to Canada Mortgage and Housing Corporation’s (CMHC) latest Residential Mortgage Industry Report (RMIR).

The quarter-over-quarter decrease in the national delinquency rate was led by lower delinquency rates in Atlantic Canada, Quebec and the Prairie provinces. In contrast, in Ontario, the mortgage delinquency rate (0.23%) was above the national average for the first time since at least 2012. In British Columbia, mortgage delinquency rates increased from 0.16% to 0.19% between Q2 2024 and Q2 2025.

In Toronto, the mortgage delinquency rate increased from 0.15% in Q2 2024 to 0.24% in Q2 2025, a year-over-year increase of 60% and a level not seen since Q3 2012.

CMHC continues to monitor these trends closely, along with other indicators in the residential mortgage market.

For more details, download and read the full RMIR on the CMHC website.

Watch CMHC's podcast discussing the latest RMIR on YouTube.

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CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada’s housing finance system. CMHC’s mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating co-operation between all levels of government, private and non-profit sectors, CMHC contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.

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