10/11/2026
Home affordability finds its footing, but rising rates could change that
Recently, we've seen home affordability starting to stabilize, thanks in large part to declining home prices in major cities like Toronto, Vancouver, and Montréal. While the average five-year fixed mortgage rate in Canada edged up to 4.55% in August, this increase has had little effect on monthly payments so far. As a real estate agent with Century 21 Leading Edge Realty Inc., I keep a close eye on these shifts to help my clients understand what changing numbers mean for their home search. It’s encouraging to see some relief in affordability, but it’s important to remember that rising rates could always influence this balance.
https://www.roomvu.com/agent-news/maisha-samiha-rahman-hiba-662149/2071620-Home-affordability-finds-its-footing%2C-but-rising-rates-could