From military service to mortgage success: How Philippe Gauvin found his perfect calling + MORE Jun 24th

Learn more about Canadian mortgage rates, rules and the latest news – read on!

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How much income do you need to buy a home in Canada? A look at housing affordability in May 2025 Jun 23rd

After an unseasonably chilly spring housing market, green shoots are appearing in terms of buyer demand—and that could mean days are numbered for easy borrowing conditions. The latest data from the Canadian Real Estate Association revealed that, after six months of declines, sales firmed up bet.... More »

Housing and interest rate forecasts for 2025 Dec 30th

As we reflect on 2024, it was a year of resilience and adjustment for Canada’s housing and mortgage market, marked by the Bank of Canada’s pivot to rate cuts after two years of relentless hikes, offering long-awaited relief to borrowers..... More »

U.S. existing-home sales rose to eight-month high in October + MORE Nov 21st

Sales of previously owned homes in the U.S. rose in October to the fastest pace in eight months, as buyers took advantage of lower mortgage rates and gained the upper hand over sellers in some markets..... More »

Rate hikes, food inflation, mortgage costs: How to get through the cost of living crisis + MORE Jul 18th

No matter the state of your finances, avoiding your fears is not the way forward, experts say. Focus on what you can control..... More »

Fixed mortgage rates surge higher as bond yields break above 4% Aug 21st

Bond yields broke through a key resistance point this week, leading to a fresh round of fixed mortgage rate increases..... More »

Canadian covered bonds retain high ratings despite market conditions: Fitch

– canadianmortgagetrends.com

With the current combination of high interest rates, inflationary pressures, and higher mortgage payments, one would expect Canada’s structured bonds to decline in rating.

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How much debt is normal in Canada? We break it down by age

– moneysense.ca

Debt seems to be a normal thing for Canadians these days. After a brief decline during the pandemic, the Canadian household debt-to-income ratio soared to 184.5% in the first quarter of 2023. That means Canadians owe nearly $1.85 for every dollar of disposable income.

The ballooning debt has been mainly driven by rising mortgage balances as demand pushed home prices to record levels across the country.

Does this mean the average Canadian is up to their eyeballs in debt? Not necessarily.

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What is the average debt for Canadians?

Let’s start by looking at the average consumer balance held across different credit products. This information comes from TransUnion’s Q1 2023 Credit Industry Insights report.

Debt typeAverage owedCredit cards$3,909Installment loans$20,845Auto loans$26,494Lines of credit$34,328Mortgages$349,178

Note, the numbers here represent the average consumer that carries a balance in these categories…

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