The amount of residential mortgages in arrears by three or more months in Alberta dropped for the 10th straight month in November according to statistics released by the Canadian Bankers Association today.
In November 2011, there were 3,757 Albertans behind in payments representing 0.72% of the total mortgages. This was down from October when 3,848 owners were in arrears which represented 0.74%.
The only province to show an increase was Quebec.
In total, Canadian residential arrears dropped from 16,562 (0.39%) in October to 16,310 (0.38%) in November.
You can view the stat report here
Always great to hear positive news about the indistry and the economy, thanks for sharing!