The average mortgage payment in the large and mid-sized cities in Canada ranged between 1,300 Canadian dollars and 2,600 Canadian dollars. In the fourth quarter of the year, Vancouver topped the ranking, with homebuyers paying, on average, ***** Canadian dollars monthly. In Toronto, the average monthly scheduled mortgage payment was ***** Canadian dollars. Canada’s housing market House prices in Canada vary widely across the country. In 2023, the average sales price of detached single-family homes in Vancouver was nearly three times as expensive as the national average. Vancouver is undoubtedly considered the least affordable housing market: In 2023, the cost of buying a home with a **-year mortgage in Canada was approximately ** percent of the median household income, whereas in Vancouver, it was nearly *** percent. Development of house prices The development of house prices depends on multiple factors, such as availability on the market and demand. Since 2005, house prices in Canada have been continuously growing. According to the MSL composite house price index, 2021 measured the highest house price increase.

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...).

In 2025, mortgage interest rates in Canada decreased. The five-year insured fixed mortgage interest rate as of May 2025 stood at **** percent, making it the most affordable mortgage type. Meanwhile, the insured mortgage rate fixed for under one year was the highest, at **** percent.

View monthly updates and historical trends for Canada 5-year Conventional Mortgage Lending Rate. Source: Canada Mortgage and Housing Corporation. Track ec…

In 2006, the average monthly shelter cost for renter households was $728 and for owner households it was $998. For owners without a mortgage it was lower at $455 and for owners with a mortgage it was higher at $1393. Shelter costs are the average monthly total of all shelter expenses paid by households to secure shelter. Shelter costs for owners may include the mortgage payment, property taxes, condominium fees and the costs of electricity, heat and municipal services. Shelter costs for renters may include rent and the costs of electricity, heat and municipal services. The map shows by census subdivision the average owner’s major (monthly) payments on shelter costs for households with a mortgage.

This table contains data described by the following dimensions (Not all combinations are available): Geography (13 items: Newfoundland and Labrador; Prince Edward Island; Atlantic provinces; Canada ...).

Evaluate Canada’s best mortgage rates in one place. RATESDOTCA’s Rate Matrix lets you compare pricing for all key mortgage types and terms. Rates are based on an average mortgage of $300,000

Rates have been trending downward in Canada for the last five years. The ebbs and flows are caused by changes in Canada’s bond yields (driven by Canadians economic developments and international rate movements, particularly U.S. rate fluctuations) and the overnight rate (which is set by the Bank of Canada). As of August 2022, there has been a 225 bps increase in the prime rate, since beginning of year 2022, from 2.45% to 4.70% as of Aug 24th 2022. The following are the historical conventional mortgage rates offered by the 6 major chartered banks in Canada in the past 20 years.

This table contains 44 series, with data starting from 1969 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Monthly (2 items: At month-end; Average at month-end ...), Seasonal adjustment (2 items: Unadjusted; Seasonally adjusted ...), Components (11 items: Total outstanding balances; Finance companies and other institutions; Total of foregoing; Chartered banks ...).

Average House Prices in Canada increased to 688800 CAD in October from 687600 CAD in September of 2025. This dataset includes a chart with historical data for Canada Average House Prices.

This table contains data described by the following dimensions (Not all combinations are available): Geography (247 items: Carbonear; Newfoundland and Labrador; Corner Brook; Newfoundland and Labrador; Grand Falls-Windsor; Newfoundland and Labrador; Gander; Newfoundland and Labrador ...), Type of structure (4 items: Apartment structures of three units and over; Apartment structures of six units and over; Row and apartment structures of three units and over; Row structures of three units and over ...), Type of unit (4 items: Two bedroom units; Three bedroom units; One bedroom units; Bachelor units ...).

The benchmark interest rate in Canada was last recorded at 2.25 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Home affordability has worsened substantially in Canada since 2021. In the first quarter of 2025, the monthly single-family mortgage payment amounted to approximately 61.7 percent of a household's income, on average. In 2021, when affordability had improved slightly, the average mortgage payment constituted 46.5 percent of a household's income.

The share of mortgages in arrears in Canada reached an all-time low in 2022, followed by an increase until 2025. As of **********, the rate of mortgage arrears was **** percent, up from **** percent in September 2022.

View monthly updates and historical trends for Canada Prairie Provinces Housing Starts 6-month Moving Average. Source: Canada Mortgage and Housing Corpora…

This table contains data described by the following dimensions (Not all combinations are available): Geography (47 items: Prince Edward Island; Atlantic provinces; Newfoundland and Labrador; Canada ...), Type of unit (6 items: Total units; Single-detached units; Semi-detached units; Multiples ...).

Key information about Canada Long Term Interest Rate

• Canada Government Benchmark Bonds Yield: Month End: 10 Years was reported at 3.12 % pa in Oct 2025, compared with 3.17 % pa in the previous month.
• Canada Long Term Interest Rate data is updated monthly, available from Jan 1993 to Oct 2025.
• The data reached an all-time high of 9.28 % pa in Jun 1994 and a record low of 0.46 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by Bank of Canada.

• In the latest reports, Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.21 % pa in Oct 2025.
• The cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 2.25 % pa in Oct 2025.
• Canada Exchange Rate against USD averaged 1.40 (USD/CAD) in Oct 2025.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at *** percent in June 2022 before steadily declining to *** percent by December 2024. In early 2025, inflation began to increase again, rising to *** percent in February and dropping to *** percent in March. In April 2025, inflation decreased to *** percent. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of **** percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to *** percent in December 2024. In 2025, the bank rate witnessed further cuts, standing at * percent in March 2025 and **** percent in September 2025. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at *** percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching **** percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at **** percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

View monthly updates and historical trends for Canada Prairie Provinces Semi-detached Units Housing Starts 6-month Moving Average. Source: Canada Mortgage…

Canada Mortgage and Housing Corporation, housing starts in all centres 10,000 and over, Canada, provinces, and census metropolitan areas, 6-month moving average