Mortgage delinquencies more than quadrupled in Toronto

[border_humper]

https://archive.is/2026.02.06-140403/https://financialpost.com/news/mortgage-delinquencies-quadrupled-canadian-city-no-relief

For example, mortgage delinquencies since 2022 have more than quadrupled in Toronto.

The Toronto Regional Real Estate Board (TRREB) on Wednesday said it expects more home price declines in the first half of this year. It also said sales in December fell 20 per cent from a year ago.

Mortgage arrears are also rising steadily in Vancouver, though at a slower pace than in Toronto, due to rising costs and “weaker resale conditions.”

Meanwhile, the costs of mortgage debt outpaced the increase in value of real estate in the third quarter, according to Statistics Canada’s latest household wealth survey.

The CMHC also said the number of high-risk borrowers is growing, while debt is rising the fastest among those who are most likely to miss a mortgage payment.

At this point, delinquency levels are still historically low, but the housing agency is forecasting for them to rise to pre-pandemic levels.

It also said the trends “indicate that more households may be becoming overstretched as they adjust to higher interest rates and the rising cost of living. This highlights growing financial vulnerability.”

Homeowners going to start walking away like 2008, except underwater Canadian homeowners will get on the flight to Amritsar.

 

[Hirudinea]

https://archive.is/2026.02.06-140403/https://financialpost.com/news/mortgage-delinquencies-quadrupled-canadian-city-no-relief

Homeowners going to start walking away like 2008, except underwater Canadian homeowners will get on the flight to Amritsar.

border_humper
Well if they go back to India that is still good news.

 

[ex_libris]

Been hearing of a lot of dual-income couples suddenly becoming single income...getting tight out there.