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Canada's residential mortgage market crossed $2.4 trillion at the end of 2025. Here's how outstanding balances have grown, sourced from CMHC and the Bank of Canada.
in Canadian residential mortgage debt outstanding economy-wide as of December 2025
— up 4.8% year-over-year, a faster pace than 2024 but still below the historical average.
CMHC Residential Mortgage Industry Report
The Bank of Canada's quarterly banking statistics track real estate-secured lending at Canada's chartered banks, the most complete verifiable subset of the market.
Bank of Canada, chartered banks' real estate-secured lending (residential), quarter-end balances net of allowances. Covers Canada's largest chartered banks only; excludes credit unions and non-bank lenders.
The market crossed $2.4 trillion in 2025: CMHC confirms Canadian residential mortgage debt passed the $2.4-trillion mark in December 2025, up 4.8% year-over-year — faster than 2024, though still below the historical average pace.
Chartered banks kept growing even as new borrowing slowed: real estate-secured lending at Canada's largest banks rose every quarter through 2025, from $1.98 trillion to $2.05 trillion, even as Statistics Canada recorded the slowest pace of net new mortgage borrowing since early 2024 in Q1 2026.
Debt is growing faster than income again: Statistics Canada's household credit-market-debt-to-income ratio climbed for a sixth consecutive quarter to 179.6% in Q1 2026 — about $1.80 of credit-market debt for every dollar of disposable income.
HELOCs are a growing slice of the balance: the HELOC and non-amortizing portion of combined mortgage-HELOC plans at chartered banks grew from $155.3 billion to $160.2 billion over the same five quarters, even as stand-alone HELOC balances shrank.
| Quarter | Total real estate–secured lending | Of which: mortgage & amortizing combined | Of which: HELOC & non-amortizing |
|---|---|---|---|
| 2024 Q4 | $1,976.1B | $1,743.1B | $155.3B |
| 2025 Q1 | $1,984.2B | $1,751.8B | $154.5B |
| 2025 Q2 | $2,007.2B | $1,770.6B | $157.4B |
| 2025 Q3 | $2,031.6B | $1,794.2B | $158.9B |
| 2025 Q4 | $2,050.3B | $1,812.1B | $160.2B |
Bank of Canada banking and financial statistics, chartered banks only. HELOC figures include the HELOC and non-amortizing portion of combined mortgage-HELOC plans.
year-over-year growth in residential mortgage debt, Dec 2025
CMHC RMIR
household credit-market debt as a share of disposable income, Q1 2026
Statistics Canada
net mortgage loan originations (seasonally adjusted), Q1 2026 — the slowest pace since Q1 2024
Statistics Canada
household debt service ratio, Q1 2026
Statistics Canada
A market still growing past $2.4 trillion — even as new originations cool — means the existing book of business (renewals, refinances, and equity take-out) matters more than new-purchase volume alone. Brokers who track which of their clients' balances are growing relative to income, and who can move quickly when a client needs to refinance or restructure, are better positioned as debt-service pressure rises.
Last updated August 1, 2026. Each figure carries its source; projections are labelled. Page reviewed on every major source release. Information only — not advice.
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