Canadian Mortgage Delinquencies Fall In 26 Cities, As Markets Flood With Cheap Credit

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Canada may have elevated unemployment levels, but mortgage delinquencies are dropping. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies for Q4 2020. The majority of cities, 26 in total, saw the rate of delinquency lower than last year. Only 5 markets saw the rate rise, as a combination of low rates and mortgage deferrals mean there’s little reason for mortgages to become delinquent –  even if a household can’t pay the bills.

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Original Article Source Credits:  Better Dwelling , 

Article Written By:  Daniel Wong

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