Canadian Mortgage Delinquencies Are Rising Fast But Still Relatively Low
Canadian mortgage borrowers are experiencing a hiccup when it comes to payments. Equifax Canada data shows mortgage delinquencies climbed further in Q`1 2024. While the delinquency rate remains relatively low from a historical standpoint, the sharp climb made over the past few quarters may show it can change soon.
Canadian Mortgage Delinquencies Are On The Rise, But Still Remain Low
Canadian mortgage delinquencies remain relatively low, but they are climbing at a fast rate. The delinquency rate advanced 0.01 points to 0.18% in Q1 2024, and is now 0.03 points higher than last year. Nowhere near pre-2020 levels, but steadily advancing back towards those levels. [Continue Reading]