Alberta Mortgage Arrears Level Falls Despite Massive Layoffs

Over 12,000 Albertans have been let go in group layoffs since the start of the year, but it has yet to show up in mortgage arrears data compiled by the Canadian Bankers Association.

In June, the percentage of Alberta residential mortgages with payments behind by at least 3 months was 0.27%, unchanged from May and down from the 0.32% recorded in June 2014, or 263 fewer arrears year-over-year.

Across the country the mortgage arrears rate was up from the previous June in the Atlantic provinces, Quebec, Manitoba and Saskatchewan.  Along with Alberta, the mortgage arrears rate decreased in B.C. and Ontario.

Alberta residential mortgages in arrears

Alberta residential mortgages in arrears

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