More than ************* mortgage loans are projected to be affected by the increasing mortgage interest rates in Canada by 2025. About *********** of these mortgages are projected to be up for renewal in 2024. These loans were taken out at a time when interest rates were much lower, meaning that homeowners will be affected by a notable increase in their monthly payments.

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.

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.

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.

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

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

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.

Mortgage credit interest rate, percent in Canada, September, 2025 The most recent value is 4.35 percent as of September 2025, a decline compared to the previous value of 4.42 percent. Historically, the average for Canada from July 2016 to September 2025 is 3.36 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

This table contains 38 series, with data starting from 1957 (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 item: Canada), Rates (38 items: Bank rate; Chartered bank administered interest rates - prime business; Chartered bank - consumer loan rate; Forward premium or discount (-), United States dollars in Canada: 1 month; ...).

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.

Bank Lending Rate in Canada decreased to 4.45 percent in November from 4.70 percent in October of 2025. This dataset provides - Canada Prime Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Mortgage interest rates worldwide varied greatly in June 2025, from less than ******percent in many European countries to as high as ***percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increases in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2024, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

The Canadian housing market, particularly in major urban centers, has experienced a prolonged period of rapid price appreciation, driven by factors such as low interest rates, strong population growth, and limited supply. According to the Canada Mortgage and Housing Corporation (CMHC), the national average house price rose by more than 50% between 2020 and 2022, with prices in some major cities, such as Toronto and Vancouver, increasing by even more. This rapid price growth has made it increasingly difficult for many Canadians to afford a home, especially in the country's most desirable markets. However, the Canadian housing market is starting to show signs of cooling in 2023, as rising interest rates and stricter mortgage lending rules from the government begin to take effect. The CMHC predicts that the national average house price will decline by 7.6% in 2023, with prices in some markets, such as Toronto and Vancouver, expected to fall by even more. This cooling is expected to continue in 2024, with the CMHC predicting a further decline in the national average house price of 3.2%. The long-term outlook for the Canadian housing market is more uncertain, but the CMHC expects that prices will continue to rise, albeit at a more moderate pace. The Canadian housing market is one of the most expensive in the world, with prices in major cities like Toronto and Vancouver soaring to record highs in recent years. This has led to a growing concern about affordability, as many Canadians are being priced out of the market. Key drivers for this market are: Increasing Adoption of Remote and Hybrid Work Model. Potential restraints include: Lack of Privacy. Notable trends are: Pandemic Accelerated Luxury Home Sales in Major Canadian Markets.

In September 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In September 2025, Russia maintained the highest interest rate at 17 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.3 percent in September 2025. In contrast, Russia maintained a high inflation rate of 8 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Digital Mortgage In-Branch Kiosks Market Outlook

According to our latest research, the Global Digital Mortgage In-Branch Kiosks market size was valued at $1.3 billion in 2024 and is projected to reach $3.8 billion by 2033, expanding at a CAGR of 12.7% during the forecast period 2025–2033. The primary factor fueling this robust growth is the increasing demand for seamless, automated, and contactless mortgage processes within financial institutions, which is driving widespread adoption of digital in-branch kiosks. As banks and mortgage lenders strive to enhance customer experience and operational efficiency, the integration of advanced kiosk technologies is becoming pivotal to their digital transformation strategies.

Regional Outlook

North America currently commands the largest share of the Digital Mortgage In-Branch Kiosks market, accounting for approximately 42% of the global market value in 2024. The region’s dominance is underpinned by its mature financial services sector, high digital literacy rates, and early adoption of fintech innovations. Robust regulatory frameworks, coupled with proactive investment in branch modernization by leading banks and credit unions, have further accelerated the deployment of digital mortgage kiosks across the United States and Canada. Strategic partnerships between technology providers and major financial institutions have also contributed to the rapid scaling of kiosk-based solutions, particularly for loan origination and document management applications.

The Asia Pacific region is emerging as the fastest-growing market, projected to register a CAGR of 15.4% from 2025 to 2033. This accelerated growth is driven by the rapid digitalization of banking services, increasing urbanization, and a burgeoning middle-class population seeking quicker mortgage processing solutions. Major economies like China, India, and Australia are witnessing significant investments in banking infrastructure and technology upgrades, with local players collaborating with global fintech companies to deploy advanced in-branch kiosks. Government-driven initiatives to promote cashless transactions and digital banking are further catalyzing market expansion, making Asia Pacific a focal point for future growth.

In contrast, emerging economies across Latin America and the Middle East & Africa are experiencing a more gradual adoption of digital mortgage in-branch kiosks. While there is growing interest in digital transformation within the financial sector, challenges such as limited infrastructure, regulatory complexities, and lower digital literacy rates are impeding rapid uptake. However, localized demand is steadily increasing as banks seek to differentiate themselves and capture untapped market segments. Government reforms aimed at financial inclusion, coupled with international investments in fintech, are expected to gradually unlock new opportunities, albeit at a slower pace compared to more developed regions.

Report Scope

Following the drastic increase directly after the COVID-19 pandemic, the delinquency rate started to gradually decline, falling below *** percent in the second quarter of 2023. In the second half of 2023, the delinquency rate picked up but remained stable throughout 2024. In the second quarter of 2025, **** percent of mortgage loans were delinquent. That was significantly lower than the **** percent during the onset of the COVID-19 pandemic in 2020 or the peak of *** percent during the subprime mortgage crisis of 2007-2010. What does the mortgage delinquency rate tell us? The mortgage delinquency rate is the share of the total number of mortgaged home loans in the U.S. where payment is overdue by 30 days or more. Many borrowers eventually manage to service their loan, though, as indicated by the markedly lower foreclosure rates. Total home mortgage debt in the U.S. stood at almost ** trillion U.S. dollars in 2024. Not all mortgage loans are made equal ‘Subprime’ loans, being targeted at high-risk borrowers and generally coupled with higher interest rates to compensate for the risk. These loans have far higher delinquency rates than conventional loans. Defaulting on such loans was one of the triggers for the 2007-2010 financial crisis, with subprime delinquency rates reaching almost ** percent around this time. These higher delinquency rates translate into higher foreclosure rates, which peaked at just under ** percent of all subprime mortgages in 2011.

Manufacturers of concrete pipes and blocks are vital to the construction sector, providing essential materials for residential, commercial and infrastructure projects. Economic trends influence this industry; fluctuations in interest or mortgage rates impact construction financing costs, potentially influencing construction activity and demand for materials. Additionally, the industry's engagement in international trade, particularly with the US, means that broader American economic and political conditions impact Canadian manufacturers. Furthermore, changes in the prices of key inputs, like cement, and the manufacturers' ability to pass these cost increases onto customers significantly impact revenue growth and profitability within this industry. During the current period, the industry is on track to reach $1.9 billion, marking growth in both revenue and profitability. This expansion is primarily driven by rising input prices, especially cement, and strong demand from nonresidential construction markets, which compensates for the slowed activity in the housing market. Cement price increases, accounting for much of the annual 6.7% revenue growth, are fueled by rising energy costs and regulations that hike the marginal CO2 costs associated with cement production. Demand landscape across construction markets has varied: nonresidential construction has seen an upswing, with businesses leveraging historically low interest rates to fund expansion. Conversely, residential construction has faced supply constraints despite high demand from a rapidly growing population, which is contributing to a modest industry growth of just 0.2% in 2024. The industry is expected to climb at a CAGR of 2.0% over the next five years, reaching $2.1 billion by 2029. This growth is supported by the ongoing expansion of nonresidential construction markets, gradual improvements in the housing sector and robust growth in exports. The overall economic expansion, aided in part by declining interest rates and consistent government investment in infrastructure projects, will drive steady demand for concrete pipes and blocks. While the housing market will continue to face challenges such as labor shortages and lengthy project approval times, the anticipated decrease in mortgage rates is likely to enhance demand in residential construction. Additionally, trade with the US is projected to recover after its recent downturn, further bolstering industry growth.

This dataset includes one dataset which was custom ordered from Statistics Canada.The table includes information on housing suitability and shelter-cost-to-income ratio by number of bedrooms, housing tenure, age of primary household maintainer, household type, and income quartile ranges for census subdivisions in British Columbia. The dataset is in Beyond 20/20 (.ivt) format. The Beyond 20/20 browser is required in order to open it. This software can be freely downloaded from the Statistics Canada website: https://www.statcan.gc.ca/eng/public/beyond20-20 (Windows only). For information on how to use Beyond 20/20, please see: http://odesi2.scholarsportal.info/documentation/Beyond2020/beyond20-quickstart.pdf https://wiki.ubc.ca/Library:Beyond_20/20_Guide Custom order from Statistics Canada includes the following dimensions and variables: Geography: Non-reserve CSDs in British Columbia - 299 geographies The global non-response rate (GNR) is an important measure of census data quality. It combines total non-response (households) and partial non-response (questions). A lower GNR indicates a lower risk of non-response bias and, as a result, a lower risk of inaccuracy. The counts and estimates for geographic areas with a GNR equal to or greater than 50% are not published in the standard products. The counts and estimates for these areas have a high risk of non-response bias, and in most cases, should not be released. Housing Tenure Including Presence of Mortgage (5) 1. Total – Private non-band non-farm off-reserve households with an income greater than zero by housing tenure 2. Households who own 3. With a mortgage1 4. Without a mortgage 5. Households who rent Notes: 1) Presence of mortgage - Refers to whether the owner households reported mortgage or loan payments for their dwelling. 2015 Before-tax Household Income Quartile Ranges (5) 1. Total – Private households by quartile ranges1, 2, 3 2. Count of households under or at quartile 1 3. Count of households between quartile 1 and quartile 2 (median) (including at quartile 2) 4. Count of households between quartile 2 (median) and quartile 3 (including at quartile 3) 5. Count of households over quartile 3 Notes: 1) A private household will be assigned to a quartile range depending on its CSD-level location and depending on its tenure (owned and rented). Quartile ranges for owned households in a specific CSD are delimited by the 2015 before-tax income quartiles of owned households with an income greater than zero and residing in non-farm off-reserve dwellings in that CSD. Quartile ranges for rented households in a specific CSD are delimited by the 2015 before-tax income quartiles of rented households with an income greater than zero and residing in non-farm off-reserve dwellings in that CSD. 2) For the income quartiles dollar values (the delimiters) please refer to Table 1. 3) Quartiles 1 to 3 are suppressed if the number of actual records used in the calculation (not rounded or weighted) is less than 16. For cases in which the renters’ quartiles or the owners’ quartiles (figures from Table 1) of a CSD are suppressed the CSD is assigned to a quartile range depending on the provincial renters’ or owners’ quartile figures. Number of Bedrooms (Unit Size) (6) 1. Total – Private households by number of bedrooms1 2. 0 bedrooms (Bachelor/Studio) 3. 1 bedroom 4. 2 bedrooms 5. 3 bedrooms 6. 4 bedrooms Note: 1) Dwellings with 5 bedrooms or more included in the total count only. Housing Suitability (6) 1. Total - Housing suitability 2. Suitable 3. Not suitable 4. One bedroom shortfall 5. Two bedroom shortfall 6. Three or more bedroom shortfall Note: 1) 'Housing suitability' refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. 'Housing suitability' assesses the required number of bedrooms for a household based on the age, sex, and relationships among household members. An alternative variable, 'persons per room,' considers all rooms in a private dwelling and the number of household members. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. Shelter-cost-to-income-ratio (4) 1. Total – Private non-band non-farm off-reserve households with an income greater than zero 2. Spending less than 30% of households total income on shelter costs 3. Spending 30% or more of households total income on shelter costs 4. Spending 50% or more of households total income on shelter costs Note: 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. Household Statistics (8) 1....