Seven in 10 current consumers say they wouldn’t have been capable of buy their dwelling with out monetary assist, most frequently from household, based on Mortgage Professionals Canada’s newest shopper survey.
The 2025 State of the Housing Market report paints an image of rising pressure as affordability gaps widen. Carried out by Bond Model Loyalty, the survey attracts from a nationwide pattern of two,000 Canadians, together with each mortgage holders and potential consumers.
The findings counsel that homeownership is changing into more and more out of attain for these with out intergenerational assist, with down fee help now considered by many not as a “nice-to-have,” however a requirement.
“Down fee help is not a backup plan—it’s a requirement for a lot of Canadians hoping to purchase,” mentioned MPC President and CEO Lauren van den Berg. “These findings affirm what brokers throughout the nation are seeing each day: shoppers are below stress, they usually want knowledgeable, clear recommendation to discover a method ahead.”
Brokers rising in significance as mortgage choices get extra complicated
With borrowing prices nonetheless elevated and mortgage renewals looming, a couple of third of Canadians repeatedly flip to mortgage brokers for knowledgeable recommendation. Nevertheless, intent to work with a dealer has risen, with two-thirds of these surveyed saying they’re more likely to work with a mortgage dealer subsequent time they want a mortgage.
Dealer use stays particularly sturdy amongst first-time consumers, with 36% saying they used a dealer. Equally, 35% of those that purchased up to now two years are extra inclined to have used a dealer, as are these between the ages of 18-54 (34%).
Regionally, Alberta leads the pack with a 37% dealer share, adopted by Ontario at 33%.
Amongst those that’ve already labored with a dealer, 81% say they’d do it once more. And based on the survey, dealer shoppers persistently really feel extra assured of their mortgage choices than those that go on to a financial institution.
Renovation plans, rental revenue now core to homeownership technique
Along with monetary assist from household, extra Canadians are leaning on different methods to afford homeownership, together with renovations and rental revenue.
Over 70% of house owners surveyed mentioned they’ve lately renovated or plan to, whereas a rising share of consumers say they depend on rental revenue to assist cowl their mortgage funds.
Youthful debtors have been additionally extra more likely to make further funds or enhance fee frequency, significantly these with variable-rate mortgages.
The survey additionally discovered broad assist for brand new revenue verification instruments to strengthen belief within the system. A majority of Canadians again safer methods to confirm revenue straight with the Canada Income Company, a coverage MPC has been pushing for.
“Canadians are involved about mortgage fraud,” van den Berg mentioned. “It artificially inflates dwelling costs and makes it tougher for sincere, hardworking Canadians to compete. We’ve urged the federal government to allow revenue verification in a method that’s secure, quick, and truthful.”
The federal authorities dedicated to delivering such a software in its 2024 Fall Financial Assertion, noting that the CRA had begun working with mortgage lenders and different monetary sector companions to design and implement it. Whereas rollout was initially anticipated to start in early 2025, no launch date has been confirmed.
A deep-dive into the survey outcomes…
The mortgage market
Mortgage sorts
70% of mortgage holders had fixed-rate mortgages in 2024 (unchanged from 2023)
75% mentioned their fee has all the time been mounted
10% mentioned they locked in from a variable fee inside the previous 12 months
22% of mortgages have variable or adjustable charges (-1 pt. from 2023)
16% of variable-rate debtors mentioned they switched from a hard and fast fee inside the previous 12 months.
4% of debtors have a mix of mounted and variable, often known as “hybrid” mortgages (+1 pt.)
Penalties
10% of respondents mentioned they paid a penalty when breaking their most up-to-date mortgage (unchanged from final 12 months)
$6,732: The typical penalty paid in 2024 (+$3,221 from the prior 12 months)
Renewals
74% of mortgage holders anticipate to resume their mortgage inside the subsequent three years (up from 70% in 2023)
29% anticipate to resume inside the subsequent this 12 months
21% of these dealing with renewal who’ve excessive nervousness (9 or 10 out of 10) about renewing at the next fee (down from 22% in 2023 and 23% in 2022)
59% of these dealing with renewal nonetheless face nervousness (6-10 out of 10) about renewing at the next rate of interest
HELOCs
43% of present debtors say they’ve entry to a Residence Fairness Line of Credit score (HELOC)
51% of debtors with entry to a HELOC have by no means borrowed towards it
$127,626: The typical quantity of dwelling fairness the typical borrower has entry to by way of their HELOC
$26,740: The typical quantity borrowed from their HELOC
Commonest makes use of for HELOC funds embrace:
45%: For dwelling renovation (+11 pts. from prior 12 months)
35%: For debt consolidation and reimbursement (+2 pts.)
30%: To make a purchase order, reminiscent of automobile or schooling (+7 pts.)
18%: For investments (+3 pts.)
11%: To present or lend to members of the family (+3 pts.)
Actions to speed up mortgage reimbursement
40% of mortgage holders have taken motion to shorten their amortization durations (+ pts.)
16% elevated the quantity of their fee (+1 pt.)
$1,040: The typical enhance in month-to-month fee
21% made no less than one lump-sum fee (+4 pts.)
$23,666: The typical lump-sum mortgage fee made
10% elevated their fee frequency (+2 pts.)
Use of mortgage professionals and lenders
Dealer share
32% of mortgage debtors used the companies of a mortgage dealer after they obtained their mortgage
36% of first-time consumers used a mortgage dealer
35% of those that bought inside the final two years
37% of these in Alberta
34% of these between the ages of 18 and 34
34% of these between the ages of 35 and 54
81% of mortgage dealer shoppers say they’re probably to make use of a dealer once more (vs. simply 58% of financial institution prospects)
Dealer intent is on the rise
81% of dealer shoppers say they’re probably to make use of a dealer once more
68%: Amongst all debtors, the proportion who mentioned they’re probably to make use of a dealer for his or her subsequent mortgage (+6 pts.)
19% are very probably (+1 pts)
Present lender sort
53%: Certainly one of Canada’s massive banks
25%: Non-bank lender or small financial institution lender
13%: Mortgage Funding Company (MIC)
4%: Credit score union, life insurance coverage or belief firm
4%: Non-public lender
Shopper sentiment
44% of Canadians suppose now is an efficient time to purchase of their neighborhood (+15 pts. from 2023)
35% of non-owners who say they’ll by no means be capable to purchase a house (-16 pts. from 2023)
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shopper survey mortgage shopper survey mortgage professionals canada mpc semi-annual state of the housing market survey state of the mortgage market
Final modified: July 17, 2025
