Summary

• The housing bubble and unaffordable pricing have thwarted the launch plans of new households over the past decade.
• Borrowers who secured mortgages in 2020-21 at rates under 2% are now seeing renewal offers in the 4-5% range.
• As of the first quarter of 2026, non-performing mortgage loans in Canada reached approximately $7.2 billion - an increase of about 150% since 2022.

The housing bubble and unaffordable pricing have thwarted the launch plans of new households over the past decade.

The National Association of Realtors (NAR) reported the typical age of first-time buyers climbed to an all-time high of