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

Author: External Author | | Categories: Best Mortgage Rate , First Time Homeowner Mortgage , Low-Interest Mortgage , Mortgage Broker

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.

Read More

Original Article Source Credits:   Better Dwelling ,

Article Written By:  NA

Original Article Posted on:  

Link to Original Article: