The Financial Post reports in its Wednesday, Feb. 25, edition that mortgage debt hit $1.95-trillion in the fourth quarter of 2025, a 2.6-per-cent increase from the previous year, according to Equifax Canada. The Post's Serah Louis writes that with the Bank of Canada lowering its policy interest rate to 2.25 per cent and declining home prices in some areas, first-time homebuyers still face challenges, according to Rebecca Oakes at Equifax Canada, who anticipates mortgage debt will exceed $2-trillion this year. Average new mortgage amounts have continued to rise, hitting $363,778 for all homebuyers (a 4 per cent increase) and $441,301 for first-time buyers (a 5 per cent increase). Ms. Oakes said missed mortgage payments have also been creeping up, especially in higher-cost provinces like Ontario. Meanwhile, lender switching has soared by 30 to 40 per cent compared with the second half of 2024 due to homeowners seeking more affordable rates amid mortgage renewals. Equifax data showed 90-day-plus mortgage balance delinquency rates jumped 30 per cent year-over-year in the fourth quarter across Canada, rising as much as 54.5 per cent in Ontario. Ms. Oakes said Equifax is "cautiously optimistic" for 2026.