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Can you retire with a mortgage? More Canadians are saying yes
– canadianmortgagetrends.com
Retiring with mortgage debt is no longer the exception—it’s quickly becoming the norm as rising housing costs and later-life borrowing reshape retirement in Canada.Canadians are turning to family—and credit—to stay afloat
– moneysense.ca
A report from Mortgage Professionals Canada (MPC) found that 70% of recent home buyers say they couldn’t have purchased their property without financial help. A separate survey by Harris & Partners, a licensed insolvency trustee firm, shows that many Canadians are struggling to afford routine expenses: nearly 60% of respondents said their income isn’t sufficient to cover essentials like rent, groceries, and utilities.
The new reality of home ownership: financial help and rising payments
MPC’s State of the Housing Market survey found that seven in 10 Canadians who purchased a home in the last two years say they couldn’t have done so without help with a down payment. Across all home buyers, that figure stands at 58%.
In most cases, the “help” comes from family. A 2024 report from CIBC shows that intergenerational wealth transfers are becoming the norm, with 31% of first-time buyers receiving a financial gift from their parents…
