Mortgages in Arrears in Canada – What the Numbers Mean
Mortgage arrears in Canada are still very low when compared to both historical data and international benchmarks. Although there is a potential for arrears rates to rise if the Canadian job market weakens, financial institutions continue to support their clients during tough economic times, just as they have done before.
Banks remain committed to supporting their customers through periods of financial stress, as they have in the past.
Despite concerns, the overall stability of mortgage repayments reflects resilience in the Canadian housing finance system.
Summary: Mortgage arrears in Canada stay minimal by global standards, with banks actively helping clients through financial challenges, preserving system stability.