Mortgages among Canadians’ top concerns in 2024

As the new year kicks off, the top concerns of Canadians for 2024 are the cost of living and immigration, according to a recent survey by Nanos Research.

As the new year kicks off, the top concerns of Canadians for 2024 are the cost of living and immigration, according to a recent survey by Nanos Research.

The survey found that half of Canadians who have a mortgage are “concerned” or “somewhat concerned” about making payments, 35 per cent of respondents want the House of Commons to prioritize the cost of living, and up to 61 per cent of those surveyed want Canada to “accept less immigrants.”

Nanos found that one in two Canadians with a mortgage say they are concerned (24 per cent) or somewhat concerned (28 per cent) about the ability to make their mortgage payments when their mortgage renews.

The data shows that younger Canadians between 18 and 35 years old are more likely to be concerned (29 per cent) or somewhat concerned (34 per cent) about mortgage payments.

Canadians 55 and older demonstrated notably less worry, with only 16 per cent sharing they are concerned and 20 per cent saying they are somewhat concerned about mortgage bills.

The data also shows a disparity of concern between men and women. Twenty-six per cent of women expressed they are concerned and 33 per cent said they are somewhat concerned about mortgage payments. On the other hand, 22 per cent of men expressed they are concerned and 33 per cent said they are somewhat concerned.