FCAC Report: The financial well-being of Canadian homeowners with mortgages

FCAC - Financial Consumer Agency of Canada May 2024

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The Financial Consumer Agency of Canada’s (FCAC) report examines and compares key measures of financial well-being
for 3 groups of Canadians: homeowners with mortgages, homeowners without mortgages, and renters. The data shown
here are derived from FCAC’s COVID-19 Financial Well-being Survey. The survey began in August 2020 as a way to measure
the financial impact of the COVID pandemic. It is a nationally representative online and telephone survey fielded monthly,
with approximately 1,000 respondents1 per month.2,3 The survey enables FCAC to provide a trend analysis of changes in
Canadians’ self-reported financial well-being. The data here represent the period from August 2020 to December 2022—a
time characterized by a complex, rapidly changing economic context with increased cost-of-living and higher interest
rates, in addition to the financial impact of the pandemic.