The number of Alberta residential mortgages in arrears continued to drop in September according to statistics released today by the Canadian Banker’s Association.
There were a total of 3,928 mortgages that were in arrears 3 or more months representing 0.75% of the total amount. This was down slightly m/m from the 3,964 or 0.76% recorded in August.
Year-over-year, the total arrears remained fairly steady (-12) while the amount of total mortgages increased by +18,807
Canada-wide, the total of mortgages in arrears also dropped in September from the previous month from 16,761 (0.40%) to 16,667 (0.39%). That was the lowest total since summer 2009.
You can view all the numbers and statistics on CBA’s website here
* CBA includes data for NWT and NU included in Alberta
*Includes data from BMO, CIBC, HSBC Bank Canada, National Bank of Canada, RBC Royal Bank, Scotiabank, and TD Canada Trust. Canadian Western Bank and Manulife Bank (as of April 2004)
* Mortgage arrears is three or more months