Mortgage delinquencies continue to rise — spurring concerns about surging household debt
Unemployment is the most common cause of late mortgage payments by Canadians, while high levels of household debt and mortgage renewal shock remain challenges, according to a new report by the Canada Mortgage and Housing Corporation (CMHC).
At the same time, borrowers are seeking more alternative mortgage lenders, which saw delinquencies — late debt payments by 90 days or more — also spike in 2024.
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