Mortgage Arrears Creep Up In Some Provinces, Still Dropping In Alberta

The Canadian Banker Association (CBA) released the arrears figures for July 2012 which revealed some provinces had an uptick in the amount of owners behind in their mortgages by 3 or more months.

The provinces that saw a month-over-month rise were:

  • Quebec
  • Saskatchewan
  • Atlantic provinces

In BC and Ontario, the two most-oft mentioned bubble hotspots in Canada, surprisingly saw their mortgage arrears rates drop but the correction has just begun there.

Alberta mortgage in arrears rates fell to 0.59% – it’s the first time below 0.6% since May 2009.  Total mortgages in arrears were 3,117.

Canada-wide, the arrears rate was unchanged at 0.33%, but the actual figure declined from the previous month.

You can download the entire report  here

One response to “Mortgage Arrears Creep Up In Some Provinces, Still Dropping In Alberta

  1. Pingback: ATB: Real Estate Angst? Not In Alberta | Calgary Real Estate Review

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