Double Income Families Driving Housing Market

Katherine Martin • July 10, 2015

No doubt you have thought about the affordability of the current Canadian housing market. And chances are you have even thought about where houses prices will go in the future! Maybe you have parents that tell you stories of a different time when they bought their first house for less than you paid for you first car. Inflation accounts for some of the increase in prices, but there has to be something else (most likely lots of something elses).

In a recent study completed by Statistics Canada called: Employment patterns of families with children, 1976 to 2014, the study noted that…

“In 2014, 69% of couple families with at least one child under 16 years of age had two working parents, up from 36% in 1976.”

Said in another way (as it relates to affordability of housing)

In 1976, 36% of couple families with at least one child under 16 years of age had two working parents contributing to household income (including the mortgage). In 2014, this number jumped to 69%.

With almost 7 out of every 10 families having the ability to qualify for their mortgages using two incomes, it is no wonder that over the last 30 years house prices have increased significantly. As income is the main driver in affordability, double income families have more income than most single income families, so they can afford to spend more on housing.

So what does all this mean to you?

Well… if you are a single person or one half of a double income family, housing prices continue to go up, making housing less affordable. If you are considering getting into the market, making sure you look at all the mortgage options available to you and having a plan to pay off your mortgage is essential.

I am a mortgage professional and I would love to sit down with you and discuss your specific financial situation in order to help you arrange financing to purchase a home that suits your personal and family’s needs.

Here is the complete study from Statistics Canada for your reading pleasure.

Katherine Martin


Origin Mortgages

Phone: 1-604-454-0843
Email: kmartin@planmymortgage.ca
Fax: 1-604-454-0842


RECENT POSTS

How to Maximize Your Mortgage Renewal Opportunity

By Katherine Martin • September 9, 2026
Your Lender Is Not Obligated to Renew Your Mortgage Many homeowners assume that if they’ve made every mortgage payment on time, their lender is automatically required to renew their mortgage at the end of the term. That’s a common belief—but it isn’t true. When you sign a mortgage, you’re agreeing to a contract for a specific term . Once that term ends, the lender has the legal right to either renew the mortgage or call the loan . There is no obligation to offer a renewal. In practice, most lenders do renew mortgages—but certain situations can prevent that from happening. Reasons a Lender May Decline to Renew A lender may choose not to renew if: Mortgage payments were missed during the term A bankruptcy or consumer proposal has occurred There is a separation or divorce Employment or income has changed A borrower on the mortgage has passed away The lender no longer prefers the property’s location or market The lender is no longer licensed to lend in Canada Even one of these factors can change how a lender views the risk. Why This Matters Because renewal is not guaranteed, waiting until the last minute can put you in a difficult position. Understanding this reality early gives you time and control. How to Protect Yourself at Renewal The best approach is to be proactive. Ideally, you should begin reviewing your options 120 days before your mortgage term ends . This gives you enough time to explore alternatives and make informed decisions—rather than reacting under pressure. Even if your current lender offers a renewal, that’s just one option , not automatically the best one. The lender that was right for you years ago may no longer offer the most competitive rate, terms, or flexibility today. The goal at renewal isn’t convenience—it’s reducing your total cost of borrowing and choosing terms that align with your current situation. Why Work With an Independent Mortgage Professional Working with an independent mortgage professional ensures someone is advocating for you , not the lender. Instead of being limited to one set of products, you can compare options across multiple lenders and choose the solution that best protects your interests. Final Thoughts Whether your lender is offering a renewal or not, the smartest move is to review all your options before signing anything. If your mortgage is coming up for renewal—or if you want to plan ahead—feel free to connect anytime. I’d be happy to help you protect your options and make a confident decision.

Bank of Canada Holds Rate at 2.25% — September 2, 2026

By Katherine Martin • September 2, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. While Canada's economic recovery is broadening, a new layer of uncertainty has entered the picture. Here is what happened and what it means for your mortgage.
© 2026 

Katherine Martin. All Rights Reserved.