Homeowner Renovation Plans

Many mortgage consumers, especially refinancers are planning renovations, 63% know these costs can be added to their mortgage.

63%

mortgage consumers are planning renovations (down from 65%)
70%

refinancers are planning renovations (up from 68%)

Renovations Prioritize Energy Efficiency

91% are satisfied with renovations and 75% saw energy bill savings. Over a quarter cite improving energy efficiency as their main goal.

29%

plan to improve energy efficiency (30% in 2025)
43%

of future energy efficiency renovators plan to add new doors and/or windows
37%

of future energy efficiency renovators plan to seal areas of air leakage

Awareness of Energy-Efficiency Products and Rebates

Awareness is strong among mortgage consumers who renovated or plan to renovate to improve energy efficiency.

29%

plan on using CMHC Eco Improvement
29%

plan on using CMHC Eco Plus

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2026 CMHC Mortgage Consumer Survey

Explore Canada’s mortgage market with the latest data on homebuying, ownership and lending trends.

In January 2026, we connected with over 4,100 people from across the country. They included first-time homebuyers, repeat buyers and those renewing or refinancing their mortgage. We wanted to learn about their thoughts, decisions and experiences with homeownership and getting a mortgage.

A few things to keep in mind about the results:

Numbers are rounded.
Percentages may go over 100% when people could pick more than one answer.
Only the main answers are shown for some questions.

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Most Common Mortgage Transactions

Renewals remain the most common mortgage transaction.

66%

renewers
5%

repeat buyers
11%

first-time homebuyers
19%

refinancers

Attitudes Toward Mortgages and Homeownership

Fewer mortgage consumers expect their home value to rise over the next 12 months (down from 74% to 68%). Most see homeownership as a good long-term investment.

81%

believe homeownership is a good long-term financial investment
80%

are confident they can make future mortgage payments
74%

feel they got the best mortgage deal for their needs
72%

are comfortable with their current mortgage debt

Top Reasons for First-Time Homebuyers to Purchase a Home

Financial readiness and life changes drive first-time home purchases.

31%

felt financially ready
16%

had a change in living situation
12%

needed a larger home

Top Reasons for Repeat Homebuyers to Purchase a Home

Repeat buyers often move due to life changes or space needs.

19%

had a change in living situation
18%

needed a larger home
16%

were downsizing

Reasons to Refinance a Mortgage

Homeowners are refinancing for a variety of reasons, with renovations and financial health remaining top motivators. Nearly half (49%) also chose to refinance before their scheduled renewal.

32%

renovations (28% in 2025)
19%

debt reconciliation (22% in 2025)
14%

decreasing mortgage payments (14% in 2025)

Main Sites for Mortgage-Related Information

16% of those who searched online used artificial intelligence (AI) to get mortgage information. Use of social media for mortgage information dropped to 47% in 2026, down from 54% in 2025.

33%

used interest rate comparison sites
32%

used mortgage broker websites
31%

used lender websites

Funding a Home Purchase Through Savings and Equity

Homebuyers took an average of 4.4 years to save for a down payment, up from 3.4 years in 2025.

51%

of first-time buyers said savings was the largest part of their down payment
44%

of repeat buyers said equity from their previous home was the largest part of their down payment

Homebuyer Experiences and Challenges

Homebuyers are experiencing fewer financial and emotional pressures in 2026.

52%

paid the maximum they could afford (down from 58% in 2025)
47%

felt uncertain or concerned during the homebuying process (down from 62% in 2025)

Homebuyer Gift Trends

23% of homebuyers received a gift (down from 29% in 2025), with a median amount of $30,000. Of those, 26% said they couldn’t have purchased a home that met their needs without it (up from 19% in 2025).

27%

first-time homebuyers received a gift (down from 34%)
13%

repeat buyers received a gift (15% in 2025)

Most First-Time Buyers Rent Before Buying

First-time homebuyers rented for 7.6 years on average before purchasing, up from 6.3 years in 2025.

72%

rented before buying (up from 64%)
27%

lived with family or friends (down from 35%)

Nearly a Third of First-Time Buyers Rely on Co-Signers

28% needed a co-signer (not including partner/spouse), these respondents reported using different types of co-signers.

54%

parents
25%

children
25%

another family member
7%

business partner or friend

Unexpected Expenses in the Homebuying Process

32% of homebuyers had unexpected costs during buying, down from 42% in 2025. Most were moving, repairs or legal fees.

36%

first-time homebuyers (down from 44%)
23%

repeat buyers (down from 37%)

How Homebuyers Cover Unexpected Expenses

Homebuyers are relying less on gifts or Home Equity Line of Credits (HELOCs). First-time buyers are twice as likely to use credit cards or a line of credit.

52%

savings
31%

credit line or credit
20%

gift or loan from family or friend
20%

loan from a financial institution

Understanding the Mortgage Process

Most mortgage consumers feel confident managing their mortgage and debt.

79%

understood what they could afford
77%

felt they had the right tools to manage debt
74%

found the mortgage process easy

Mortgage Process Concerns

One in 4 mortgage consumers felt uncertainty when navigating the mortgage process, especially around interest rates.

26%

experienced concerns or uncertainty during the mortgage process
35%

said their main concern was interest rate fluctuations

Mortgage Pressure and Credit Use

While some mortgage consumers face higher payments, overall financial stress is easing compared with last year.

35%

of renewers face higher mortgage payments, up an average of $375/month
19%

of mortgage consumers use one credit facility to pay another, down from 22%

Mortgage Consumers Increasing Payments to Reduce Debt

Many mortgage consumers are paying extra or lump-sum payments to reduce financial pressure.

39%

make extra payments (down from 47%)
41%

of renewers make extra payments (down from 48%)

About the Mortgage Consumer Survey

CMHC’s annual Mortgage Consumer Survey looks at how Canadians think about homeownership and mortgages. In 2026, over 4,100 adults who make the main household decisions and recently completed a mortgage transaction shared their experiences.

The survey was offered in English and French, capturing a wide range of perspectives from across Canada.