Are High Interest Rates Ruining Canadian Love Lives?

You know interest rates are high when even love starts feeling the pressure.

In 2025, it’s not just wallets being squeezed — it’s relationships too. A recent survey from 360Lending revealed something few expected: nearly half of Canadians believe high interest rates are harming their love lives.

Whether it’s a quiet Valentine’s Day at home or postponed wedding plans, the emotional side of our financial world is getting real. Let’s break it all down.

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Key Takeaways

• 50% of Canadians say high interest rates are negatively impacting their romantic lives.
• Over two-thirds are skipping Valentine’s Day celebrations to save for a home.
• Financial stress from mortgages, renewals, and inflation is weighing heavily on relationships.
• Nesto data shows a rise in single mortgage applicants and delayed marriage plans — but also bigger down payments and stronger financial independence.

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The Debt vs. Date Dilemma

It’s no secret that interest rate hikes have made mortgage payments, car loans, and credit card debt tougher to juggle. But what’s surprising is the toll this is taking on couples — especially young ones.

According to the 360Lending survey:

• 52.1% of Canadians said they’re planning to cut back on spending for their partner this Valentine’s Day due to housing expenses.
• 67.3% said they’d skip Valentine’s Day altogether just to keep saving for a down payment.

That’s a lot of cancelled dinner reservations.

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Goodbye Date Nights, Hello Financial Fights

With higher interest rates, the little luxuries — like weekend getaways, nice dinners, or spontaneous gifts — have become harder to justify. And for many, that means tension is creeping into what should be the most joyful parts of life.

💬 “We used to go out every other week. Now we’re budgeting just to get through the month,” said one couple we spoke with in Winnipeg.

Instead of sushi nights or spa days, couples are settling for home-cooked pasta and Netflix. Not that there’s anything wrong with that — but when it becomes a financial necessity instead of a choice, the stress adds up.

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Mortgage Renewals = Romance Delays?

Rising rates don’t just affect new home buyers. Many Canadians are feeling the heat as they renew their mortgages at higher interest rates.

According to the same survey:

• 40% of mortgage holders have already renewed at higher rates.
• This means tighter budgets, cancelled plans, and in some cases, postponed weddings or family planning.

One couple in Ottawa shared how they had to put off their wedding to manage the mortgage renewal bump that added $450/month to their payments.

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Love on Hold: What Nesto’s Data Says

At nesto, we dug into our own application data to see if this trend shows up in real numbers — and it absolutely does.

Between February 2023 and February 2024, here’s what we found:

• 76% of mortgage applicants were single
• Only 24% were married
• In Quebec, over half reported being in a common-law relationship

Even among co-applicants, only 64% were married. That means many couples are either delaying marriage or choosing to apply as single buyers — possibly as a strategy to qualify better or maintain financial independence.

Perhaps even more revealing: Solo applicants put down larger down payments, on average, than couples. That suggests many are prioritizing financial readiness over romantic milestones.

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Prioritizing Property Over Partnership?

In the same survey, 44.5% of Canadians said they would rather save for a down payment than be in love right now.

That’s nearly half the country choosing homeownership over romance. And while it might sound cold, it’s also a reflection of how seriously Canadians are taking the current housing and debt crisis.

When mortgage stress enters the relationship chat, it’s not just numbers anymore. Couples are having tough conversations about whether to co-sign, move in together, or even separate finances entirely.

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Love in the Time of Inflation

Inflation hasn’t just raised the cost of groceries or gas. It’s forced couples to confront major lifestyle decisions, fast.

Should we buy a home now or wait it out?
Is this the right time to move in together — or will that hurt our credit scores?
Should we combine finances, or play it safe and keep things separate?

These questions aren’t just practical — they’re deeply emotional. And when your relationship is already under strain, financial stress can be the tipping point.

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Real Talk: What Can You Do?

We can’t control Bank of Canada decisions. But we can control how we plan, communicate, and strategize — especially with our partners.

Here’s what we recommend:

• Have the money talk early — be honest about debt, goals, and credit scores
• Run the numbers together using a mortgage affordability calculator
• Talk to a mortgage expert who can help you figure out your options (as a couple or solo!)
  
  It turns out high interest rates aren’t just testing relationships — they’re also shaking the foundation of Canada’s housing market. See how declining home prices are putting the financial system at risk.

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💡 Final Thoughts

Love may be free, but living together isn’t.

Whether you’re single, partnered, or somewhere in between, rising interest rates are forcing Canadians to rethink not just their budgets — but their relationships too.

Still, there’s hope. Financial independence can be empowering. And with the right tools, advice, and planning, you can fall in love with your mortgage — and maybe keep your partner too.

So this Valentine’s Day, whether you’re splitting a mortgage or a chocolate bar, remember: A strong relationship includes strong financial communication.

💡 Have Mortgage Questions? Let’s Talk.

Whether you’re renewing, refinancing, or buying your first home, understanding your options can save you thousands. Speak to a licensed mortgage expert today — no pressure, just helpful guidance.
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