TORONTO — A new national survey from Mortgage Professionals Canada (MPC) reveals that nearly seven in 10 recent homebuyers say they would not have been able to afford their home without outside help for their down payment—highlighting growing affordability challenges in Canada’s housing market.
The 2025 State of the Housing Market report, based on a survey of 2,000 Canadians conducted by Bond Brand Loyalty, underscores just how critical family gifts, loans, and other supports have become in enabling homeownership. Even among all mortgage recipients surveyed, 58% said they couldn’t have made the down payment without assistance—a trend that appears to be holding steady, down only slightly from last year’s 60%.
“Down payment assistance is no longer a backup plan—it’s a requirement for many Canadians hoping to buy,” said Lauren van den Berg, President and CEO of Mortgage Professionals Canada.
Key Insights from the 2025 Survey
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Support is now essential: Among buyers in the past two years, 70% needed financial help with their down payment.
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Affordability worries loom: With 74% of mortgage holders set to renew by 2028, 20% say they’re anxious about future payments.
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Fixed rates still dominate: 68% of borrowers prefer fixed-rate mortgages, though variable-rate holders are more likely to make extra payments.
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Brokers are trusted guides: Clients who used mortgage brokers reported higher satisfaction and more confidence than those who went directly to banks.
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Renovations and rental income drive choices: Over 70% of homeowners said they had recently renovated or planned to, and many now rely on rental income to offset costs.
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Fraud concerns rise: 34% now rate their concern about mortgage fraud as high, up from 29% last year. Support is growing for secure CRA-enabled income verification.
Call for Government Action
Mortgage Professionals Canada is calling on the federal government to support the development of secure, CRA-enabled income verification tools to reduce fraud while protecting consumer privacy. The association argues that tighter safeguards are urgently needed, as mortgage fraud inflates housing prices and disproportionately hurts honest homebuyers.
“We’ve urged the government to enable income verification in a way that’s safe, fast, and fair,” van den Berg added. “It’s one more way we’re standing up for Canadians in this critical moment.”
The full 2025 report is available at Mortgage Professionals Canada.
About Mortgage Professionals Canada
Mortgage Professionals Canada is a non-profit association representing over 15,000 members across 1,000 firms—including brokers, banks, lenders, insurers, and service providers. The association advocates for choice, transparency, and accessibility in the mortgage industry, with 45% of first-time buyers in Canada now using a broker. Visit findmeabroker.ca to connect with a licensed mortgage professional.
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