Fewer Albertans were behind on their mortgage payments by 3 or more months in February according to statistics released by the Canadian Bankers Association.
A total of 2,060 mortgages were in arrears this past February representing 0.37% of the total number of residential mortgages in the province.
That’s an improvement from the previous February when there were 2,548 (0.48%) arrears.
The recovery has taken several years and the arrears rate still isn’t near 2007 levels, but it’s at the lowest point since November 2008 and seems to be slowly improving every month.
You can download the figures for all the provinces here