Average value of new mortgage loans in Canada 2012-2024, per quarter
The average loan size of new mortgages in Canada increased in 2024, after a year of steady decline in 2023. In the third quarter of 2024, the average size of a mortgage amounted to 349,364 Canadian dollars, up from 332,825 in the second quarter of 2024. Mortgages varied in size in different metropolitan areas, with Toronto and Vancouver seeing the highest value of new mortgages.