More good news about Alberta’s housing market. According to the latest Canadian Bankers Association data, the percentage of mortgages in arrears in Alberta in November was 0.38%, down from 0.51% the previous year and from the 0.4% the previous month.
Of 557,374 total residential mortgages in the province, 2,114 were behind in payments by 3 or more months. The arrears rate is now at the lowest level since November 2008.
The arrears rate for Canada remained at 0.31% for the 4th straight month and was a slight improvement from the 0.32% recorded the previous November.
You can view data for all the provinces here