Fewer than 3,000 Albertans were behind 3 months or more on their mortgage payments according to the Canadian Bankers Association (CBA) report for August just released yesterday.
A total of 2,998 residential mortgages representing 0.57% of total number were in arrears. That’s the first time under the 3k mark since June 2009 and the lowest % ratio since April 2009.
While the Alberta arrears rate has been dropping fairly steadily after peaking in January 2011 at 0.84%, it still remains the highest of all the provinces.
Canada-wide, the arrears rate remained unchanged for the 3rd straight month at 0.33%.
You can download the entire report here