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Build Canada Homes: Addressing the housing crunch.

An ambitious strategy to unlock 3.5 million new homes by 2030 through Build Homes Canada — a new agency with $13B to play with — intends to action modern methods of construction, such as prefab housing, to increase non-market and affordable-market supply significantly:

Deliver housing at scale

Expand non-market and community housing on public or surplus land

Demonstrate financial viability and leverage other investments

Use innovative building methods and Canadian-made materials

Read more here: Prefab revival: Can factory-built homes fix affordability?

Confirmed: GST relief for some first-time home buyers.

Announced and running since May 2025, the budget confirms a 100% GST rebate (elimination) for first-time home buyers of newly built homes up to $1M, and a scaled rebate between $1M and $1.5M.

Read more here: GST Rebate on New Homes: How It Works

Canada Mortgage Bonds: Annual limit increases to $80 billion.

The CMB program was expanded again, raising the annual issuance limit to $80 billion, up from $60 billion, with the additional $20 billion to be used in support of CMHC-insured, multi-unit rental housing.

This program primarily affects lenders and insurers, allowing them more room to offer CMB investment, while encouraging multi-family housing builds — one more indirect mechanism that could eventually help ease demand and rental (and, indirectly, home) prices.

And what is to be written out:Canada Secondary Suite Loan Program (not that there ever was one).

A Secondary Suite program, announced under the Trudeau government's Spring 2024 budget, has been formally shelved. This program offered borrowers mortgage default-insured refinance funds to construct a secondary suite, to encourage density in already established homes.

However, it didn't see buy-in from mortgage lenders and insurers, as the hiccups of when and how to provide funds to homeowners for suite construction prevented its adoption.

Read more here: Add a Secondary Suite With An Insured Refinance

Underused Housing Tax

This 1% tax, implemented in 2022, discouraged foreign ownership (and domestic small corporations and trusts) of vacant or underutilized residential properties — and will be eliminated with this budget.

On again, off again (this time for good) — Greener Homes Grant

A program that grants homeowners up to $5,000 for eligible energy-efficiency upgrades, such as heat pumps, insulation, and windows, is being phased out.