Mortgages in Arrears in Canada – What the Numbers Mean
Across Canada, the share of mortgages falling into arrears remains among the lowest levels seen both historically and globally. This stability reflects strong lending practices and borrowers’ generally sound financial position.
Although there is potential for arrears rates to rise slightly should the job market weaken, the overall outlook remains steady. Canadian banks continue to emphasize their commitment to helping clients manage temporary financial pressures, maintaining the same approach they have shown in earlier economic slowdowns.
“Banks remain committed to supporting their customers through periods of financial stress, as they have in the past.”
Summary
The current low level of Canadian mortgage arrears highlights resilient borrowers and ongoing support from banks, even amid potential employment challenges.