Canada's housing market is experiencing challenges, with mortgage delinquencies over 90 days rising to 0.19% in Q2 2024. Alternative lending sectors are under more strain, with delinquencies at 1.15%. Additionally, 5% of single-family home borrowers are over 60 days behind on payments. With 1.2 million mortgages up for renewal in 2025, financial strain may grow despite recent rate cuts. The CMHC warns of ongoing risks from high household debt and rising delinquency rates.
Continue to full article
