What's keeping Canadians from their biggest financial goals might surprise you
Nearly two-thirds of Canadians are holding back on major purchases and life milestones, including buying a home, according to new research commissioned by EQ Bank, painting a picture of consumer caution that carries direct consequences for the country's mortgage market.
The Save Little, Dream Big survey, conducted by Angus Reid between July 8 and July 14 among 1,807 Canadian adults, found that 64% are pausing at least one significant purchase or life goal owing to elevated costs and economic and geopolitical uncertainty.
Among those delaying, the most commonly deferred expenses were major travel (49%), home renovations (34%), and buying a car (31%).
Most consequentially for mortgage brokers, 20% of respondents said they are postponing the purchase of a first home, while 13% are deferring retirement and 11% are putting off getting married.
The hesitation runs deepest among younger Canadians. Of those aged 18 to 34, 38% are holding off on buying their first home, a generational pressure that sits at the heart of the ongoing challenges facing Canada's first-time homebuyer market in 2026.
Following better-than-expected GDP growth, economists from TD Economics, CIBC Economics, RBC Economics, and BMO Capital Markets remain aligned that the Bank of Canada is likely to hold its policy rate steady.https://t.co/zC3DaNdf96
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Waiting for the right conditions
The pause is conditional, not permanent. Among those holding off, 57% are waiting for the cost of living to become more affordable, 29% want housing prices to ease, and 21% are monitoring trade tensions with the United States.
For Canadians aged 18 to 34, 30% say a more favourable job market would be the trigger to move forward.
That conditional stance maps directly onto the supply-side pressures brokers are navigating. Net savings across the bottom 80% of Canadian households have turned materially negative, according to Boston Consulting Group research, with the lowest 20% of earners seeing spending rise 27% between 2021 and 2025 against disposable income growth of just 3%. That compression directly erodes the down payment capacity that brokers depend on to move files forward.
Savings habits key to keeping big goals within reach
Despite the widespread caution, 71% of survey respondents said they believe their big financial goals remain achievable with the right savings habits.
Among those who moved ahead with a major purchase, half (50%) credited having sufficient savings to manage risk as the key factor.
Canadians also want everyday financial tools that deliver more value: 36% said rewards and cashback help offset rising costs, while 24% said they want their bank to make earning value across routine purchases simpler and easier.
"While some major plans are on pause, Canadians haven't stopped dreaming — they're just looking for more smart, practical ways to keep moving toward their goals," said Daniel Rethazy, Executive Vice President, Personal Banking, EQ Bank.
"Canadians are telling us they want value that is simpler, more connected and easier to earn through the purchases they make every day."
The findings add texture to a broader trend. According to Mortgage Professionals Canada's Spring 2026 research, 66% of non-owners say current conditions have already delayed their buying plans, down from 51% who said they would never expect to own a home, reflecting cautious but persistent demand.
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