At Lendworth, we’re helping homebuyers and homeowners take advantage of today’s improving conditions through equity-based financing, second mortgages, and custom refinancing solutions when traditional banks aren’t an option.
🔍 What's Driving the Shift?
- 📉 Interest rate cuts over the past five quarters are the biggest driver behind the affordability boost.
- 🏠 Modest price declines in major markets, especially Toronto and Vancouver, are easing the cost of ownership.
- 💵 Household income gains continue to improve borrowers’ ability to qualify and sustain payments.
While these are promising trends, affordability is still far from pre-pandemic levels—and the situation remains challenging in urban markets like Toronto, Vancouver, and Victoria.
📊 Toronto Housing: More Affordable, But Still Out of Reach?
In the GTA, affordability has improved—but not enough to trigger a full buyer comeback. RBC’s Toronto affordability index sits at 68.3%, meaning nearly 70% of a household’s income is needed to cover housing costs.
Despite the progress, most buyers are still priced out. With inventory rising sharply and condos sitting longer on the market, sellers are beginning to feel the pressure — and that’s where Lendworth steps in.
🛠️ Lendworth Solutions for Today’s Market
We offer smart, flexible lending alternatives tailored to the current market realities:
- ✅ Second Mortgages for equity takeout or down payment support
- ✅ Bridge Loans to help you buy before you sell
- ✅ Home Renovation Financing to increase property value
- ✅ Debt Consolidation Loans to lower monthly payments and improve cash flow
- ✅ Condo Financing solutions with less red tape
If you're struggling to qualify with a bank or want to act fast in a shifting market, Lendworth’s private mortgage solutions are designed to give you a competitive edge.
📈 What’s Next for Housing Affordability?
RBC projects that interest rate cuts and softening prices will help reverse about half of the pandemic-era affordability loss by the end of 2025. But progress beyond that will depend on wage growth and further price adjustments—both of which remain uncertain.
With the Bank of Canada’s rate holding at 2.75%, this may be the best window buyers and refinancers get for some time.
💬 Final Word
The Canadian housing market is shifting—and Lendworth is here to help you stay ahead. Whether you’re a first-time buyer, upgrading, or tapping into your home equity, our team of mortgage professionals can craft a solution that fits.
📞 Contact us today or visit www.lendworth.ca to explore your options. Let’s make your next move possible.