New study highlights mortgages’ role in Canadian family debt
Published by BriefDash · · Toronto
New Statistics Canada research finds that mortgages explain much of the difference in debt between immigrant and Canadian-born families. In 2023, families whose main earner was 35–64 and obtained permanent residence at least 10 years earlier averaged $287,300 in debt, versus $173,100 for Canadian-born families with main earners of the same age. Mortgages accounted for 86% of the former group’s debt. The study draws on surveys from 2016, 2019 and 2023.
Why it matters
The findings describe historical housing-related borrowing; the authors caution that job losses or higher borrowing costs can still strain repayment.
Source dated October 28, 2026 · Statistics Canada ↗
Adapted from Statistics Canada, Indebtedness and financial vulnerability among families of immigrants and Canadian-born people, Survey of Financial Security 2016, 2019 and 2023, released October 28, 2026. This does not constitute an endorsement by Statistics Canada of this product.
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