If you’re thinking about buying a home, renewing your mortgage or just trying to make sense of where the market is headed, you’re not alone. Every year, Mortgage Professionals Canada releases a report that takes the pulse of Canadians – how we’re feeling about homeownership and interest rates, as well as makes important predictions. Here’s what the 2025 State of the Housing Market Report: Annual Consumer Survey reveals – and what this information could mean for you.
More Canadians think now is a good time to buy
After a few rocky years, confidence is slowly returning. In 2022, only 30% of people believed it was a good time to buy a home. Now, that number has jumped to 44%. That may not seem huge, but it’s a strong sign that more people are feeling ready to take the next step.
Mortgage renewals are a worry – but there’s help
If your mortgage is coming up for renewal, you may be worried about what higher rates could mean for your monthly payments. The good news? You’re not alone, and there are ways to make renewal work in your favour. Talking to your mortgage agent early can give you options – and peace of mind.
Getting a down payment still feels like the biggest hurdle
If you’re trying to buy your first home, the biggest challenge probably isn’t finding the perfect listing – it’s coming up with a down payment. According to the report, 70% of recent buyers said they wouldn’t have been able to buy without some sort of financial help, often from family. The reality is, there are strategies and tools (like the First Home Savings Account) that can make this part of the journey a little easier.
People still believe in real estate
Despite all the headlines, most Canadians believe that owning a home is a good investment. More than half think prices in their area will rise in the coming year and a majority believe that mortgage debt is “good debt” – a smart way to build long-term wealth.
More Canadians are turning to mortgage brokers
More people are choosing to work with mortgage brokers and agents – and they’re glad they did. Two-thirds of Canadians say they plan to use a mortgage broker next time, and more than 80% of those who’ve worked with a broker before say they’d do it again. Why? Because a good broker can explain your options, compare rates across lenders and help you feel confident in your choices.
So, whether you’re just starting to think about buying, gearing up for renewal or trying to figure out what your next move should be, now is a great time to talk to your mortgage agent. Even with interest rates still elevated, there are opportunities – especially if you have someone in your corner to help you navigate them.
Curious about what these trends mean for your situation? Answers are a call or email away!