Nearly half of Canadians who have renewed their mortgages since last year are facing housing costs that eat up at least half of their monthly household budget, a new survey suggests.
A poll from rate comparison website Rates.ca found 45 percent of those who participated in the survey reported that at least 50 percent or more of their monthly income was allocated to housing expenses.
At the same time, borrowing costs have increased for 82 percent of Canadians who have renewed their mortgages since January 2025, according to the survey conducted last month by Leger for Rates.ca. The majority of those polled said they had experienced an increase in their mortgage rates, ranging from 2 percent to 4.99 percent….