The New Canadian Homebuyer: How Affordability, Debt Levels, and Shifting Lender Rules Are Changing the Mortgage Landscape

Lucas Mathieu

Published on: 02/12/2025

Canada’s housing market has shifted dramatically as affordability tightens and household debt reaches record levels, changing how buyers qualify and plan for a mortgage. With lenders focusing more on income stability, debt levels, and credit behaviour, today’s homebuyers need stronger preparation, realistic budgeting, and a solid pre-approval to navigate the market confidently.