Mortgage delinquencies rising with Canadians in “fragile financial state”
While Canadian homeowners are seeing some mortgage relief due to the Bank of Canada lowering its benchmark rate, a new report shows 2025 could usher in a wave of delinquencies. The Canada Mortgage and Housing Corp. (CMHC) says the mortgage delinquency rate — the proportion of Canadians who have missed payments on their mortgage for more than 90 days — continued to rise in the second quarter of 2024. And the CMHC expects a return to pre-pandemic delinquency levels by early 2025. Global’s Anne Gaviola has more on this troubling trend. For more info, please go to https://globalnews.ca
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