Canada's Mortgage Delinquency Rates Trending Up

As a telling sign of the times, Canada’s mortgage debt is seeing its slowest growth in 23 years. According to the Canadian Mortgage and Housing Corporation , the country’s total residential mortgage debt hit $2.16 trillion in February 2024, up 3.4% from February 2023.

It’s a tough time on the bank account for countless Canadians. As the report highlights , Canadian households are under an increasing amount of financial stress. While delinquency rates are still near historic lows, CMHC’s latest figures reveal an uptick in homeowners having difficulty making monthly mortgage payments. For the first time since the pandemic, Canada’s

As for interest rates, all eyes will be on the Bank of Canada on June 5th for their anticipated rate announcement. Economists are forecasting a drop in rates, something that will surely come as a relief to countless Canadians.3-Day Public Hearings Begin For New Edmonton Districts Plan

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