Canada’s mortgage delinquency rate has fallen for the first time in three years, but Ontario and British Columbia are moving in the opposite direction.

The Canada Mortgage and Housing Corporation (CMHC) said in its latest Residential Mortgage Industry Report that the national rate dropped to 0.22 per cent in the second quarter of 2025.

Lower rates in Atlantic Canada, Quebec and the Prairie provinces led the decline.

Ontario’s rate rose to 0.23 per cent, above the national average for the first time since at least 2012.

In Toronto, the rate climbed to 0.24 per cent, a 60‑per‑cent increase from the same quarter last year and the highest level since 2012.

British Columbia also saw an increase, with its rate rising from 0.16 per cent in 2024 to 0.19 per cent in 2025.

CMHC said mortgage lenders experienced growth in new originations in the first half of 2025 compared with the same period in 2024, driven by insured mortgages and refinances.

Renewals were also up significantly as borrowers with mortgages from 2020 and 2021 reached renewal dates, alongside shorter‑term loans from 2022 and 2023.

The agency noted that alternative lenders grew their outstanding mortgage value faster than traditional lenders, despite lending more conservatively than in previous years.

CMHC said the Big Six banks and credit unions increased their share of originated mortgages to 59 per cent and 18 per cent, respectively, partly due to acquisitions.

CMHC said it continues to monitor regional increases, particularly in Ontario and British Columbia, as part of its broader review of the residential mortgage market.