{"id":4473,"date":"2026-03-26T15:50:38","date_gmt":"2026-03-26T15:50:38","guid":{"rendered":"https:\/\/www.worldpumpnews.com\/?p=4473"},"modified":"2026-03-26T15:50:38","modified_gmt":"2026-03-26T15:50:38","slug":"mortgage-affordability-worsens-in-most-major-canadian-cities-report-says-national","status":"publish","type":"post","link":"https:\/\/www.worldpumpnews.com\/?p=4473","title":{"rendered":"Mortgage affordability worsens in most major Canadian cities, report says – National"},"content":{"rendered":"

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It became harder for Canadians in most major cities to afford a mortgage in February, a new report by Ratehub.ca found on Thursday.<\/p>\n

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The monthly Home Affordability Report by Canadian rate comparison platform Ratehub, which looks at mortgage and home affordability in 13 of Canada\u2019s major cities, found that in 11 of them, it became harder to afford a mortgage.<\/p>\n

\u201cThis is the first time since June of last year where we\u2019ve seen affordability worsen in most cities,\u201d Ratehub\u2019s mortgage expert Penelope Graham said.<\/p>\n

Only Vancouver and St. John\u2019s, N.L., saw affordability ease in February, while Montreal, Halifax, Hamilton, Victoria, Fredericton, Ottawa, Calgary, Regina, Toronto, Edmonton and Winnipeg saw affordability worsen.<\/p>\n

While February mortgage rates remained relatively flat compared with January, home prices did not, Graham said.<\/p>\n

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\u201cThe increases in the average home prices were enough to impact the income required to buy a home,\u201d she said, adding that Montreal saw the most significant increase, with $2,800 in additional income required to purchase the average home.<\/p>\n

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\u201cThe city saw the biggest change in home price at $14,300 more month over month. The Montreal borrower in this scenario would pay $76 more on their monthly mortgage payment, or $912 per year, in February compared to if they bought in January,\u201d Graham said.<\/p>\n

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