Private lending declines slightly but remains significant for borrowers facing affordability challenges
Despite a modest dip in 2024, private mortgage lending continues to play a vital role in Ontario’s housing market, serving as a key financing option for many borrowers, according to the latest annual report from FSRA, the province’s financial services regulator.
Lower interest rates led more borrowers to seek traditional mortgage options, contributing to a modest increase in total mortgage activity across the province.
FSRA’s second annual Private Residential Mortgage Lending in Ontario Report provides valuable insights that inform the regulator’s sector supervision priorities and help ensure that consumer protection efforts remain aligned with emerging market risks.
FSRA has maintained private mortgages as a key area of supervisory focus, particularly as delinquency rates have risen and vulnerable borrowers face increasing financial pressure.
The report draws on Ontario land registry data from Teranet’s LendViewTM platform, offering a comprehensive view of residential mortgage activity across the province.
Learn more:
- Private Residential Mortgage Lending in Ontario Report 2024
- 2024-2025 Mortgage Brokering Sector Supervision Plan
- Mortgage Product Suitability Assessment Guidance
- What you need to know about private mortgages (consumer education campaign)
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.