Mortgage Summary: More Canadians occupy homebuyers as fears of recession

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Mortgage Summary: More Canadians occupy homebuyers as fears of recession

Now, 74% of respondents say they are worried about an imminent recession, with 60% rising sharply a month ago. As affordability deteriorates, half of Canadians believe that home ownership is realized even less than a year ago.

The share of potential buyers waiting for interest rates to fall remains high, reaching 67%, but it is worth noting that 38% persevere at 3% or less, much lower than today’s products.

“With inventory building and investors absent, there are some obvious weaknesses,” said Robert Kavcic, senior economist at BMO. “It can be said that homebuyers have lost confidence and motivation, especially in British Columbia and southern Ontario.”

Buying now feels impossible to get out of reach

The survey shows that there has been a broader shift in buyer psychology:

56% Prospective buyers think they missed the opportunity to buy.
66% Millennials say their window to the market has been closed.
The only one 14% Those planning to buy expect to do so in 2025 twenty four% Push their timeline to 2026 or later.

The burden is not only exciting, but almost half (43%) of homeowners say they can’t buy a home without financial help from their families. Shared ownership is also attractive, with 45% of which can be purchased with friends or relatives (such as friends or relatives).

Despite tools and support, confidence slips

While 59% still say that owning a home is one of their highest life goals, two-thirds (66%) will lower their goals compared to five years ago. Among young Canadians, this shift is particularly dramatic, many of whom are also willing to consider relocating to another province or even another country to achieve affordability.

Meanwhile, 61% of Canadians say they are content with rentals, a sentiment that is particularly common among baby boomers and Xers.

Exclusive discounts for MPC members at the US Digital Mortgage Conference

Mortgage Professionals Canada and National Mortgage News have once again collaborated to provide MPC members with exclusive quoted digital mortgage loans, held in San Diego, California from September 16-17, 2025.

Save up to $700 for discount codes for sponsors (bank and non-bank lenders) and mortgage brokers. To receive a discount code, members should send an email to mpc via events@mortgageproscan.ca before completing the meeting registration. Canadian government employees (local or federal) are also eligible for special discounted government interest rates to pass.

This is a great opportunity for Canadian mortgage professionals to bring the latest insights back to your business and create a roadmap for your future employment companies.

Those interested can register here.

Mortgage arrears in February

According to the Canadian Bankers Association, the Canadian National Mortgage Absorption Rate was slightly above 0.23% in February, with 11,259 mortgages over the past three months.

While the increase is moderate, the trend of debts from the pandemic below 0.14% continues to trend.

Saskatchewan has the highest debt rate at 0.58%, followed by Manitoba (0.34%) and Alberta (0.30%). The lowest tax rate for arrears is Quebec and British Columbia, with a rate of 0.19% per owed.

Realtor.ca appoints three new directors, including former Manulife COO

Realtor.ca Canada Inc. has appointed three new members of the board, including Sarah Miller Wright, former Chief Operating Officer of Manulife. Miller Wright is known for leading the digital transformation of large-scale operations and financial services, with extensive expertise in customer experience and enterprise innovation.

Peter Lukomskyj, CEO of Radiant Health and veteran of digital commerce and consumer technology, and Sheila Morin, chief marketing officer of Coveo, are Chief Marketing Officer with a strong background in brand strategy and growth marketing.

The date, announced on May 13, is part of Realtor.ca’s broader strategy to strengthen governance and position a platform for ongoing digital and consumer-centric growth. They join the existing board of directors chaired by Realtor® and CPA David Oikle and join directors James Mabey and Crea Cea Ceo Janice Myers.

Next step: Career actions in the mortgage industry

The “Next Step” is a feature in our mortgage digestion that highlights significant changes and career developments within the mortgage industry. If you have a job update, we welcome your submissions to keep the community circular.

Leighton Watson joins TMG as Vice Vice President of Broker Experience

TMG Mortgage Group has announced the appointment of Leighton A. Watson as Vice President of Broker Experience.

Watson brings extensive experience to mortgage sales leadership, agency development and business growth strategies, most recently as Pineapple East Canada sales director.

In his new position at TMG, he will support brokers nationwide with tailored coaching, performance accountability and business development support.

TMG said Watson’s appointment reflects the company’s continued focus on empowering agents with full-service support and tools to help them grow their business in a competitive market.