The percentage of residential mortgages in Alberta behind in payments by 3 or more months remained at 0.42% in June according to the Canadian Bankers Association. The arrears rate has steadily declined from the 0.61% recorded from the previous June and is at its lowest level since December 2008.
British Columbia’s rate saw an uptick from 0.45% to 0.46% between May and June and inched up from 0.43% a year ago.
Ontario’s rate was 0.20% once again, after posting the same arrears rate in April & May. It was 0.22% in June 2012 and is sitting at the lowest level since November 2008.
In Canada overall, the arrears rate stayed at 0.31% for the 3rd straight month.
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