Canada

Greater Vancouver Mortgage Delinquencies Surge Higher At CIBC, Falls Everywhere Else

One of the Big Six Canadian banks is seeing an uptick in delinquencies in a key Canadian real estate market. CIBC generally observed a decline in delinquencies for uninsured mortgages in Q2 2021. The data, presented to institutional debt investors, did have one exception — Vancouver. Greater Vancouver’s uninsured mortgage delinquencies made an unexpected surge […]

Canada

Canada Isn’t Just Seeing A Surge In Highly Indebted Buyers. They Have Little Equity

Canada’s central bank is warning about a rapidly deteriorating mortgage environment. Yesterday we unpacked Bank of Canada (BoC) data on highly indebted borrowers representing a larger share of mortgage originations. Today we’re looking at an issue that builds on that — these borrowers have little equity. Highly indebted households with little equity are the perfect […]