Mortgages in Arrears in Canada – Interpreting the Numbers
Mortgage arrears across Canada continue to stay at historically low levels, especially when compared with both past national figures and global averages.
Although a potential rise in arrears could occur if the country’s job market weakens, Canadian banks reaffirm their dedication to assisting clients during times of financial hardship, following long-standing practices.
“Mortgage arrears in Canada remain very low compared to historical and international standards.”
Author’s Summary
Canadian mortgage arrears are minimal, but lenders stay prepared to help borrowers if employment trends decline.