Canada’s Non-Bank Lenders See Arrears Rate Rise 11%, Despite Deferral Programs

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Canada’s Non-Bank Lenders See Arrears Rate Rise 11%, Despite Deferral Programs

Canada’s non-bank lenders saw an unusual situation – mortgage growth, and rising arrears. Statistics Canada (Stat Can) data shows non-bank lenders had a big quarter extending mortgages in Q2 2020. The large growth in mortgage extension was accompanied by a sharp uptick in arrears. Highly unusual since those trends tend to require conditions opposite of each other.

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Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

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Link to Original Article:  https://betterdwelling.com/canadas-non-bank-lenders-see-arrears-rate-rise-11-despite-deferral-programs/



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