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

Author: External Author | | Categories: First Time Buyer Mortgage , Mortgage Agent , Mortgage Broker , Mortgage Pre-Approval , Mortgage Refinancing

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 ,

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