Home affordability improved in 10 of 13 major Canadian cities in July due to falling home prices, with Vancouver seeing the largest drop in required qualifying income by $2,540. Mortgage rates changed minimally, with the average five-year fixed rate slightly decreasing from 4.57% to 4.54%. Ottawa, Fredericton, and St. John's saw modest affordability declines. Discounted fixed-rate mortgage options below 4% remain available.