Tag: mortgage defaults Canada
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Canadian Mortgage Arrears Climb To Highest Level Since 2020
Canada’s major banks are facing rising borrower stress once again. New data from the Canadian Bankers Association (CBA) shows mortgage arrears have climbed to a 5 year high as of September. The increase comes at a time when the total number of mortgages is shrinking, meaning each delinquent borrower now carries more weight in the…
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Canadian Mortgage Delinquencies Jump 64% in Two Years – And It’s Worse Than It Looks
Canadian mortgage delinquencies have surged 64% since 2022, rising faster than any time in a generation. Behind the numbers lies a deeper credit crunch brewing across Canada’s housing market.
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Ontario Sees Surge in Unpaid Bills as Debt Levels Rise
A new report has shed light on the growing financial struggles of Canadians, revealing that an increasing number of people are unable to keep up with their major financial obligations. Among the hardest-hit provinces, Ontario stands out, with mortgage delinquencies soaring to unprecedented levels. According to data from Equifax Canada, consumer debt nationwide grew by…
Canada Housing Market 