It’s a Friday. It’s also the same day all eyes are on CREA as the association releases their national report for February. What better day for the CBA to finally post December’s unflattering mortgages in arrears figures 😉
The percentage of owners behind on their mortgage payments for three or more months in Canada increased for the first time since January 2011. The number of arrears went from 14,002 the previous month to 14,380 which edged up the percentage of arrears to total mortgages to 0.33%.
All the provinces except Alberta and Manitoba saw an increase in arrears during the month.
In Alberta, the mortgage arrears rate dropped yet again, this time to 0.49% – it’s lowest level since March 2009.
You can download the entire report here