CMHC: Mortgage Performance Highlights
OTTAWA — Canada Mortgage and Housing Corporation’s (CMHC) housing finance data includes the latest on mortgage credit, bonds, securitization, arrears and more. In its 2016 Q3 report, CMHC highlighted a few noteworthy mortgage performance insights found in the numbers:
Residential mortgage arrears rates continued to rise in Alberta and Saskatchewan. Some homeowners in these regions may face greater difficulties in making payments due to a weakened economy and higher unemployment rate. In Alberta, the mortgage arrears rate increased from 0.39% for the month of June to 0.41% in July 2016. Meanwhile, Saskatchewan saw mortgage arrears rise from 0.59% to 0.61% over the same period. Mortgage performance in all other provinces continued to improve. Overall, the Canadian residential mortgage arrears rate (0.28%) and CMHC’s insured mortgage arrears rate (0.32%) remained stable.