Canadian mortgage statistics

As of the last census, Canada’s housing stock numbers almost 15.5 million homes. Buying a home is the most expensive purchase most Canadians will make – but what does the state of Canada’s mortgage debt actually look like? On this page, we cover the average loan size for first home buyers and others, the number of loans written each month and the average mortgage size for each state.

What is the average value of a new mortgage loan in Canada?

As of Q3 in 2022, Canada has roughly $1.75 trillion in outstanding mortgages, with the average loan size over the last year being $363,654. The average loan amount across Canada decreased by 2% in Q3 2022 when compared to Q3 2021, with new loan amounts in British Columbia decreasing the most from an average of $501,262 to $487,366, a decrease of 3%.

• Infographic
• Data

Average monthly mortgage debt repayments

Over the last year, the average monthly mortgage payment amount increased by 18%. New Brunswick saw its prices increase by the most with the average repayment increasing 24%, from $933 in Q3 2021 to $1,161 in Q3 of 2022.

• Infographic
• Data

Mortgage delinquency rates around Canada

Canada has a mortgage delinquency rate of 0.14% in Q3 of 2022. Saskatchewan has a delinquency rate of 0.52%, which is actually down from 0.53% this quarter last year.

• Infographic
• Data

Outstanding mortgage debt

• Infographic
• Data

Image: Getty

Written by

Richard Laycock

Lead Editor & Insights Editor

Richard Laycock is Finder’s NYC-based lead editor & insights editor, spending the last decade data diving, writing and editing articles about all things personal finance. His musings can be found across the web including on NASDAQ, MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University, including a semester abroad at The Missouri School of Journalism (MIZZOU). See full bio