Are mortgage rates getting cheaper? Depends on where you live

Mortgage affordability improved in seven of 13 Canadian cities due to stable borrowing costs and falling home sales. Hamilton saw the biggest improvement with a $9,600 price drop and $49 monthly savings. Toronto and Vancouver also saw price declines but remain costly. Conversely, Regina, Montreal, Victoria, Halifax, Ottawa, and Winnipeg experienced rising home prices and mortgage payments, worsening affordability.