Home affordability improves in 10 of 13 Canadian cities in July

July brought some welcome news for buyers across Canada, with home affordability improving in 10 out of 13 major cities, thanks largely to declining home prices. Notably, Vancouver saw the most significant drop in required income. With mortgage rates edging down and some discounted fixed-rate options now available below 4%, the market is opening up opportunities for those considering a move or investment. As someone who has guided hundreds of clients through the nuances of the GTA and surrounding Ontario markets, I always keep a close eye on these shifts to ensure my clients have the latest insights for a smooth, timely experience.