Home affordability improves in 10 of 13 Canadian cities in July

July brought some good news for homebuyers—home affordability improved in 10 out of 13 major Canadian cities, thanks to falling home prices. Notably, Vancouver, where I focus my work as your Greater Vancouver real estate expert, experienced the largest drop in the income needed to purchase a home. Mortgage rates have eased slightly as well, with some discounted fixed-rate options now dipping below 4%. For those navigating the Greater Vancouver market, these shifts can make a real difference. As your Pinoy Realtor, I'm committed to helping you understand what these changes mean for your home search and financial planning.