The Canada Mortgage and Housing Corp. says it sees signs of financial stress among homeowners in Toronto and Vancouver, with missed mortgage payments projected to steadily increase.

First-time buyers who purchased during the COVID-19 pandemic when interest rates were lower also show greater signs of vulnerability.

Figures from CMHC show that while missed mortgage payments have risen, they are at historic lows. The report says some borrowers are extending their amortization periods to help lower their monthly payments.

The national housing agency says more than 1.5 million households have renewed their mortgage at higher interest rates, with another million expected to do so in the coming year.

Tania Bourassa-Ochoa, CMHC deputy chief economist, says most Canadians have been resilient while facing higher interest rates at renewal.

She says extending the length of a mortgage has helped households manage short-term finances, but it comes at a greater longer-term expense.

Written by

The Canadian Press
Mortgage Industry News, Mortgage Industry News
February 5, 2026

Real estate activity in the Vancouver area got off to a slow start this year as residential sales in the region totalled 1,107 last month, down 28.7% from January 2025.

Greater Vancouver Realtors says the number of properties that changed hands was also 30.9% below the 10-year seasonal average.

The composite benchmark price for all residential properties was $1,101,900, down 5.7% from the same time last year and 1.2% lower than December.

The board’s chief economist and vice-president of data analytics Andrew Lis says that while the January data may “appear alarming,” the quiet pace to kick off 2026 is unsurprising after last year ended with one of the lowest sales totals in more than two decades.

There were 5,157 new listings on the market last month, down 7.3% from a year earlier but 19.4% above the 10-year average.

Total inventory grew 9.9% year-over-year to 12,628, which was 38% above the long-term average.

Written by:

The Canadian Press
Real Estate
February 3, 2026