Great news for homebuyers: in July, home affordability improved in 10 out of 13 major Canadian cities, thanks to falling home prices. Vancouver stands out, with the largest drop in the income needed to buy a home. Even more encouraging, mortgage rates have edged down slightly, and there are still discounted fixed-rate options available under 4%. As someone who’s spent over 20 years navigating the mortgage landscape—often behind the scenes as an underwriter—I know how much a shift like this can mean, especially for those who feel stuck or overlooked by the traditional system. Whether you’re facing unique challenges or just want to make a confident, well-informed decision, understanding these trends can be a powerful first step in finding the right solution for you.
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