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Canadian mortgage trends have been evolving rapidly in recent years, with a shift towards stricter lending regulations and increased interest rates. The mortgage stress test, implemented in 2018, has made it more difficult for potential homebuyers to qualify for a mortgage, leading to a decline in housing affordability. Additionally, mortgage rates have been on the rise, impacting the purchasing power of Canadian homebuyers. As a result, there has been a trend towards longer mortgage terms and fixed-rate mortgages, as borrowers seek stability and protection from future rate hikes. The COVID-19 pandemic has also had a significant impact on mortgage trends, with many Canadians taking advantage of historically low rates to refinance their mortgages or enter the housing market. Overall, Canadian mortgage trends are continually evolving in response to economic and regulatory changes.