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Tag Archives: Deferrals

More Canadians call for suspension of rent, mortgage payments

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…

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A Canadian Bank Already Sees Expired Mortgage Payment Deferrals Turn Delinquent

Not every Canadian that took a credit payment deferral needed one. Don’t let that fool you into thinking no one needed a payment deferral though. Royal Bank of Canada (RBC) data shows the number of expired payment deferrals the bank is carrying. The vast majority of people have resumed payments without problem. However, delinquencies are showing up [&hellip…

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Canada pulls back from ‘debt deferral cliff’

While the rate of mortgage deferrals in Canada remains in the double-digits, it has been on the decline in recent months, blunting concern of a looming ‘debt deferral cliff’. Data collected by the Canada Mortgage and Housing Corporation (CMHC) and made available to Yahoo Finance Canada show that deferrals fell to 10.89 per cent in August from [&hellip…

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