Canadian mortgage rates are expected to ease modestly in 2026, but remain well above pre-pandemic lows, limiting a sharp rebound in demand.
With the Bank of Canada likely near the end of its easing cycle, rate certainty may encourage sidelined buyers to re-enter the market gradually.
Affordability should improve slightly as income growth and softer prices in some regions offset still-elevated borrowing costs.
Housing activity will remain uneven, with stronger momentum in Prairie and Atlantic markets and slower conditions in Ontario and British Columbia.
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