Canada’s Affordability Improves as Fixed Rates Rise

As someone who has spent more than three decades navigating real estate markets in the Fraser Valley, Lower Mainland, and Surrey, I’ve seen my share of headlines about affordability shifts—like recent reports suggesting that Canada’s affordability has improved as fixed rates rise. However, when you look closer, the national data doesn’t actually provide any specific figures for our local area. There are no detailed numbers on home prices, mortgage rates, or sales activity for individual towns, and no benchmarks for qualifying income or monthly payments here. Even the national mortgage stress-test conversation remains broad, without practical guidance for how a buyer or seller in our region might be affected. The only honest takeaway for us is to approach such broad statements with caution—without local data, it’s impossible to draw meaningful conclusions about our housing market. My focus remains on providing you with clear, practical advice rooted in our local realities.