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.

The average loan size of new mortgages in Canada increased in 2024, after a year of steady decline in 2023. In the third quarter of 2024, the average size of a mortgage amounted to ******* Canadian dollars, up from ******* in the second quarter of 2024. Mortgages varied in size in different metropolitan areas, with Toronto and Vancouver seeing the highest value of new mortgages.

Vancouver and Toronto, two of the biggest metropolitan areas in Canada, led the ranking by average value of new mortgage loans in the country. In Vancouver, the average new mortgage loan was approximately ******* Canadian dollars, whereas the national average was ******* Canadian dollars. Vancouver and Toronto are also the country's largest mortgage markets.

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

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

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.

This table contains 102 series, with data starting from 2013, and some select series starting from 2016. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada), Components (51 items: Total, funds advanced, residential mortgages, insured; Variable rate, insured; Fixed rate, insured, less than 1 year; Fixed rate, insured, from 1 to less than 3 years; ...), and Unit of measure (2 items: Dollars; Interest rate). For additional clarification on the component dimension, please visit the OSFI website for the Report on New and Existing Lending.

Toronto, Vancouver, and Montreal are Canada's largest mortgage markets. With nearly 419 billion Canadian dollars in mortgages outstanding, Toronto accounted for close to 23 percent of the country's 1.8 trillion Canadian dollar mortgage market. Toronto was also the metropolitan area with the second-highest average loan size for new mortgages.

This quarterly housing data provides you with average monthly payments for new mortgage loans. You can compare the average mortgage repayments made in Canada, the provinces and select Census Metropolitan Areas (CMAs). Note: Quarterly data ranges from 2012 Q3 to 2023.

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 ...).

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 ...).

Mortgage credit interest rate, percent in Canada, December, 2025 The most recent value is 4.3 percent as of December 2025, an increase compared to the previous value of 4.29 percent. Historically, the average for Canada from July 2016 to December 2025 is 3.38 percent. The minimum of 2.32 percent was recorded in February 2022, while the maximum of 4.84 percent was reached in May 2024. | TheGlobalEconomy.com

Get a snapshot of Canadian mortgage loan activity. This housing data will give you the average value of new mortgage loans in Canada, the provinces and selected large cities. Note: Canadian mortgage statistics are quarterly data and range from 2012 Q3 to 2023.

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 ...).

View weekly updates and historical trends for Canada 1 Year Conventional Mortgage Rate. Source: Bank of Canada. Track economic data with YCharts analytics.

In 2023, the total value of mortgage debt outstanding in Canada amounted to nearly 1.8 trillion Canadian dollars. Chartered banks held the largest share of mortgages outstanding.

Daily updated dataset of current mortgage rates in Canada, including fixed-rate and variable-rate mortgages across multiple terms (1-year, 2-year, 3-year, 4-year, 5-year). Includes lowest rates, average rates from major lenders, and 30-day rate changes. Compiled from publicly posted rates of Canadian mortgage lenders and financial institutions.

Canada Mortgage and Housing Corporation, housing starts, all areas, Canada and provinces, 6-month moving average — Statistics Canada Table 34100159

View monthly updates and historical trends for Canada Average 5 Year Residential Mortgage Lending Rate (DISCONTINUED). Source: Bank of Canada. Track econo…

In 2023, banks held over ** percent of the mortgages outstanding in Canada. Mortgage Investment Entities (MIEs) and private lenders only had a market share of **** percent. The average mortgage rate in Canada has increased notably since 2021. This has led to the housing market slowing and the value of mortgages outstanding to plateau.