Interest rate hikes served to destabilize most major Canadian housing markets beginning in 2022, however a new report from RE/MAX Canada reveals that homeowners are well-positioned to ride out the coming storm in large part due to lower loan-to-value ratios on new mortgages.

The RE/MAX 2023 Canada Housing Barometer Report examined average price and new mortgage values published by CMHC-Equifax Canada in 12 major markets from British Columbia to New Brunswick, to compare loan-to-value (LTV) ratios between Q3 2012 and Q3 2022. Share and access the full interactive report below.

Highlights

  • Markets with the lowest appreciation over the 10 year period reported the highest loan to value ratios.
  • 8 out of 12 markets analyzed saw the loan-to-value ratio decline over the 10 year period examined.
  • Three factors were largely responsible for the downward pressure on loan-to-value ratios over the past decade: equity gains, the pandemic facilitating the ability to work remotely in smaller markets, and the transfer of intergenerational wealth, particularly in the latter half of the last decade and the early 2020s.

National & Regional Graphics

Each market has a corresponding social graphic that you can leverage on your channels. If your region is not listed, there are also National stats available for you to share.

News Coverage

The report has reached national and regional news coverage! Be sure to watch RE/MAX Canada President, Christopher Alexander’s live interview on CP24 Breakfast.