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Housing Affordability

Improving housing affordability in Canada takes a backseat

March 31, 2025

Homeownership costs see a fourth straight drop in Canada, but the trade war is likely to loom large over the market near term.

Homebuyers get some affordability relief but strains endure

December 20, 2024

The deep housing market slump got the ball rolling last year with a modest depreciation of property values tamping down homeownership costs.

Buying a home gets a tad more affordable as rates drop

October 8, 2024

Mortgage payments, property taxes and utilities fell as a share of median household income in Canada to 59.5% from 61% in Q1.

Is the dip in ownership costs a turning point for housing affordability?

July 4, 2024

Slight drops in interest rates and home prices lowered the costs of owning a home in Canada in the first quarter

Toughest time ever to afford a home as soaring interest costs keep raising the bar

April 2, 2024

High interest rates propelled ownership costs to new summit in the fourth quarter of 2023: A household earning a median income needed to spend a staggering 63.5% of it to cover the costs of owning an average home at market price.

High rates and prices make it less affordable to own a home in Canada

December 20, 2023

Mortgage rate increases and modest appreciation in home prices drove up RBC’s aggregate affordability measure for Canada by 2.8 percentage points to 62.5%. (A rise in the measure represents a loss of affordability.) This reversed a modest improvement in the second quarter.

Second quarter affordability gain too small to relieve tensions

September 28, 2023

The burden of home ownership costs got slightly lighter in the second quarter in Canada: RBC’s aggregate affordability measure for...

Homeownership costs dip—a welcome shift but no game changer

June 28, 2023

RBC’s aggregate affordability measure for Canada fell for the first time in almost three years, edging 1.6 percentage points lower to 59.5%

Brighter days ahead as home ownership costs go through the roof

March 29, 2023

Owning a home got even more expensive: Rising interest rates further inflated home ownership costs in the fourth quarter of...

Homebuyer blues: dreadful affordability gets worse in Canada

December 19, 2022

The Bank of Canada’s battle against inflation has made it a lot harder to buy a home in this country.

Buying a home has never been so unaffordable in Canada

September 29, 2022

Unsurprisingly, soaring ownership costs turned Canada’s housing market on its head.

Canadian home buyers face least affordable market in a generation

June 23, 2022

Interest rates are back on the rise after falling to historic lows during the pandemic.