Canadian mortgage debt has seen explosive growth return, but banks aren’t seeing the benefit. Canadian Bankers Association (CBA) data shows the arrears rate in April was the highest for the month in 12 years. Mortgages in arrears—at least 90 days past due—have nearly doubled to the highest level in over 12 years. Meanwhile, their mortgage […]
Canadian banks aren’t just seeing delinquencies rise—they’re losing market share. Canadian Bankers Association (CBA) data shows the arrears rate was unchanged in March. Delinquent mortgages stalled at one of the highest levels in a decade, after doubling from 2022 lows. However, the big story last month was the drop in the number of mortgages held […]
Canadian mortgage delinquencies are rising. As reported last week, the latest CBA arrears rate hit 0.28% in February, double the record lows over the past 4 years. It hasn’t surprised many, especially those in the industry who have been sounding the alarm. However, most will be surprised to learn who’s falling behind—especially regulators. Mortgage Delinquencies […]
Canada’s banks continue to see borrowers fall behind on their mortgage payments. Canadian Bankers Association (CBA) data shows the arrears rate rose in February, and now sits at double the pandemic lows. The volume of delinquencies has now reached its highest level in more than a decade. Canadian Delinquency Rate Reaches Double 2022 Lows Mortgage […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Banks See Mortgage Delinquencies Hit 2015 Recession Levels Canadian banks rarely see mortgage delinquencies surge, but they are now. The CBA national arrears rate climbed to 0.27% in January, the highest level since 2017. The banks held 13,422 mortgages in arrears […]
Ontario’s real estate woes are quickly turning into one of the worst downturns in the province’s history. Canadian Bankers Association (CBA) data shows mortgages in arrears surged in January, reaching 5x the lows seen just four years prior. The surge has pushed Ontario’s arrears rate above the national rate, something that’s only occurred twice before. […]
Smaller mortgages historically carried larger delinquency risks in Canada. Not anymore. TransUnion data now shows the largest mortgages falling into arrears at more than double the rate of the smallest. The reversal resembles the unwinding of the US housing bubble, when those with supersized mortgages rapidly cracked. Canadian Mortgage Risk Is Usually Concentrated At The […]
Canadians are behind on their bills, and the country’s banks have front row seats to this event. Canadian Bankers Association (CBA) data shows the arrears rate rose in November. It was only a small bump among its member banks, but enough to hit a 5-year high. Excluding the initial shock in 2020, the rate is […]
Canada’s big banks are seeing a sharp erosion in mortgage credit quality. Canadian Bankers Association (CBA) data shows mortgage arrears climbed sharply in October. The rate now sits at a five-year high, but the stress may be even worse than it appears. CBA member banks are holding fewer total mortgages, potentially signaling risk mitigation. Canadian […]
Canada’s banks aren’t worried about mortgage arrears—but should they be? The arrears rate climbed again in August, according to the Canadian Bankers Association (CBA), which represents the country’s largest lenders. Investors have brushed off the rise as a return to normal after record lows. What they may not realize is that the late 1980s also […]
