\u201cDespite improving affordability, many first-time buyers continue to rely on family financial support,\u201d says Soper. \u201cThis transfer of wealth has become increasingly common, as parents look to give their children the same opportunity for stability and long-term financial growth that they themselves experienced through home ownership. For some buyers, financial contributions from family can make the decisive difference between becoming a homeowner and remaining a tenant.\u201d<\/p>\n
Of course, not every first-time buyer has the support of a third party for their homebuying aspirations and may be more likely to delay other major financial milestones such as marriage or starting a family in order to save more to buy a home.<\/p>\n
More than half of new buyers (53%) are targeting 20% down to avoid mortgage insurance, but 39% plan smaller down payments, triggering mandatory coverage. Notably, CMHC reported a 28% increase in insured mortgages year-over-year in Q2 2025.<\/p>\n
\u201cThe growing number of buyers opting for mortgage insurance suggests that many are willing to accept the added monthly cost in order to get on the property ladder sooner,\u201d Soper says. \u201cThis trend underscores the need for broader, more innovative financial tools and solutions to help Canadians renters to become owners.\u201d<\/p>\n
Nearly half (49%) of first-time buyers still aim for a detached home, even though price points remain steep at $870,200 nationally in Q2 2025 versus $592,000 for condos.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cDespite improving affordability, many first-time buyers continue to rely on family financial support,\u201d says Soper. \u201cThis transfer of…\n","protected":false},"author":2,"featured_media":168021,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[45,49,48,86503,86504,100,82252],"class_list":["post-168020","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-ca","tag-canada","tag-canadian-housing-market","tag-first-time-homebuyers","tag-markets","tag-mortgages"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/168020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=168020"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/168020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/168021"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=168020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=168020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=168020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}