A quarter of mortgage holders, 24 percent, are having difficulty keeping up with monthly debt payments, says CMHC data. And barely half said they expect the value of their home to grow over the next year.

“The current economic context and rise of interest rates has had a significant negative impact on many consumers’ financial situation,” said the 2023 Mortgage Consumer Survey. “A significant proportion of mortgage consumers are struggling to make ends meet and fulfill their debt obligations, especially those under 35. This context is also affecting respondents’ general mood.”