Canadian mortgage delinquencies are fairly boring these days, until you drill down and look at the demographic shift. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies were flat in Q3 2020. When looking at their age breakdown though, it shows delinquencies on mortgages held by seniors is soaring. Balancing out the statistic is a lower [&hellip…
Another labour union has joined an increasing number of Canadians calling for a suspension of rent and mortgage payments until the COVID-19 pandemic is over. Last week, the British Columbia Government and Service Employees’ Union urged federal and provincial officials to momentarily freeze payments as workers faced loss of income from the prospect of unpaid leaves. Now, [&hellip…
Despite the government’s fiscal assistance programs, a significant fraction of mortgages under deferral are likely to go into default, according to RBC Capital Markets analyst Darko Mihelic and senior associate Sanly Li. “We believe 10% to 20% of mortgages under deferral are at a higher risk of defaulting,” the duo said in their report last week. [&hellip…
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