Experts believe excessive federal mortgage regulation is worsening affordability in Canada.
Provincial oversight is considered sufficient, while federal rules create barriers for buyers.
The stress test and strict underwriting limit access for young and middle-income households.
Experts note that current models ignore real-world affordability factors like rent and utility payments.
Loosening federal rules could boost mobility, increase housing supply, and stabilize the market.
Author: admin
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Housing Experts Call for Smarter, More Flexible Mortgage Rules
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Steps to Secure Your 2026 Home Deposit
Set a clear savings goal using a mortgage calculator or broker; aim for at least 5-10% deposit.
Compare savings accounts—challenger banks and building societies may offer higher rates than high street banks.
Consider account types: easy access, fixed-rate bonds, regular savers, notice accounts, and Lifetime ISAs with 25% bonus.
Review income and spending; set up a standing order to make saving automatic and manageable.
Boost savings with hacks: cancel unused subscriptions, try 'no spend' challenges, switch accounts for up to £250, use round-up apps. -
Could a 2026 Inflation Hike Spark a BoC Rate Cut?
Inflation slowed to 2.2%, gas dropped, food and home prices creep up slower.
Weak economy signals could nudge BoC toward rate cuts this year.
For Canada, inflation is forecast to average 2.5% this year.
That’s not weak enough for the Bank of Canada to cut rates.
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Halfway There? Canada’s Housing Reset in 2026
Canada's housing market is quietly in the middle of a 5-year reset.
Unoccupied units are ballooning, and they're secretly putting a floor under home prices.
A record 180,000 new rental units (+7% supply) are coming—could push vacancy to 5%.
Interest rate cuts are over for 2026. This is as affordable as it’s gonna get.
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Surrey cuts building permit timelines by 75 per cent
The City of Surrey has reduced residential building permit timelines by 75%, from 16 weeks to 4, enabling faster project starts. Builders now receive security deposits back in six weeks instead of six months, accelerating project progress. Minor tenant improvement permits are reviewed within one day. These improvements support rapid housing growth, with over 4,280 new dwellings and $2 billion in construction value recently achieved.
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City cuts residential permit timelines by 75%, speeding up housing delivery
The City of Surrey has reduced residential building permit timelines by 75%, from 16 weeks to four, accelerating housing delivery. Builders now receive security deposits back in six weeks instead of six months, aiding project progress amid rising costs. Minor tenant improvement permits are reviewed within one day. The Development Approvals Process Improvements Task Force has been made permanent to further streamline approvals.
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Canada Housing 2026: Impact of Near-2% Rates?
Some banks forecast rates near 2%, while others expect higher, uncertain borrowing costs.
Lower rates help push home resales up ~7.9% in 2026.
Average home prices forecast to rise modestly (+1–3.2%) with 2%ish rates.
2%‑level rates reduce urgency for sellers, fostering a more balanced market.
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Advice for First-Time Homebuyers: Dos and Don’ts Before You Buy
Start homebuying by securing an affordable mortgage and maintaining a healthy bank account to show financial stability. Have legal help ready for contracts and negotiations. Avoid viewing homes before financial readiness to prevent unrealistic expectations. Understand the importance of inspections and appraisals, prioritize key home features, and hire an experienced real estate agent for guidance. Preparation and patience are crucial for successful homeownership.
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What if Canada’s Interest Rates Climb in 2026?
Most major banks expect rates to stay near 2.25% all year.
Some banks forecast Canada’s policy rate could rise to 2.75% by late 2026.
If rates unexpectedly climb, mortgage renewals could sharply increase monthly payments.
By end of 2026, ~60% of mortgages will be up for renewal.
Stronger inflation or global pressures could drive unexpected rate hikes.
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Simple Ways to Pay Down Your Mortgage Sooner
To pay off a mortgage faster, consider accelerated payment schedules like accelerated biweekly to make extra payments without feeling the impact. Make lump sum payments with bonuses or tax refunds to reduce principal and interest. Shorten the amortization period to 15 or 20 years if affordable. Increase regular payments annually by 10-20%. Avoid costly penalties by choosing mortgages with lower break fees. Shop for lower interest rates to save money. Use Home Equity Lines of Credit cautiously to avoid delaying mortgage freedom.
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