Home affordability improves in 10 of 13 Canadian cities in July

In July, home affordability took a step in the right direction across most of Canada—10 out of 13 major cities saw improvements, largely thanks to declining home prices. Notably, Vancouver experienced the largest income drop of the group. With mortgage rates dipping a bit and discounted fixed-rate mortgages still available below 4%, buyers have more breathing room right now. I always keep a close eye on market shifts like these to help ensure your experience is as smooth and informed as possible, whether you’re buying or selling.