Bank Of Canada Sends Home Sales Soaring, While Mortgage Defaults Rise In Toronto And Vancouver
Canadian mortgage delinquencies are flat, but it’s a little more interesting by city. At the national level, the rate of delinquency hit 0.3% in Q3, flat from the previous quarter. Toronto, which always has a much lower rate, saw the rate reach 0.12% in Q3, up 9.1% from the previous quarter. Vancouver also saw an uptick with the rate at 0.16%, up 6.7% from the previous quarter. Both Toronto and Vancouver are at the highest levels since 2016. Montreal on the other hand, has fallen to the lowest rate in half a decade.
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: NA
Original Article Posted on: 3rd January 2021
Link to Original Article: https://betterdwelling.com/this-weeks-top-stories-bank-of-canada-sends-home-sales-soaring-while-mortgage-defaults-rise-in-toronto-and-vancouver/