B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says

3/5/2024 | Posted in Financial Health by Jessi Sandhu

Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023. ... More

Tags: Mortgage Consumers, Mortgage Debt, Mortgage Delinquency, NonMortgage Debt

Mortgage renewals could cause severe downturn

10/7/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated. ... More

Tags: Bank of Canada, Canadian Debt, Mortgage Consumers, Mortgage Delinquency, Mortgage Renewals

Canada braces for higher mortgage defaults

4/21/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis of ... More

Tags: Canada Living, Canada Real Estate, Canadian Households, Canadian Housing Market, Consumer Spending, Household Debt, Mortgage Consumers, Mortgage Delinquency

Mortgage market suffers 'extended chill' says Equifax

6/17/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Canadian mortgage market continues to suffer from the impact of lower home sales in major markets as the stress tests weaken homebuyers’ abilities. ... More

Tags: Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Delinquency, Mortgage Industry, Mortgage Market, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Reverse Mortgages, Second Mortgages, Stress Test, Uninsured Mortgages, Variable Rate Mortgages

Regulator defends mortgage stress test in face of pushback from industry

6/11/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices. ... More

Tags: Canadian Housing Market, Canadian Real Estate Market Outlook, Home Buyers, Housing Affordability, Mortgage Consumers, Mortgage Delinquency, Mortgage Trends, Mortgages & Real Estate, OSFI, Stress Test

Delinquency rates hold steady even as credit market grows

5/23/2019 | Posted in Financial Health by Jessi Sandhu

The Canadian credit market has grown but it appears that consumers are generally managing their debt well. ... More

Tags: Canadian Credit Market, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Delinquency, NonMortgage Debt

Mortgage delinquencies on the rise

3/6/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

More Canadians are running into serious issues with their mortgage payments according to a new report. ... More

Tags: Bankruptcy, Household Debt, Mortgage Consumers, Mortgage Delinquency, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt

Rate hikes will push Canadian delinquencies higher

10/21/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

A slowing economy and rising borrowing costs will probably push Canadian delinquency rates higher in coming months, according to the country’s largest credit reporting ... More

Tags: Mortgage Delinquency, Mortgages & Real Estate

8 in 10 mortgage holders have high credit scores

10/2/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

Individuals who take out a mortgage tend to have higher credit scores, according to a recent report by the Canada Mortgage Housing Corporation. ... More

Tags: Canada Mortgage and Housing Corporation, CMHC, Mortgage Consumers, Mortgage Delinquency, Mortgage Trends, Mortgages & Real Estate