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Canada pulls back from debt deferral cliff

Author: External Author | | Categories: Bank Mortgage , First Time Home Buyer Mortgage , Home Renovation Mortgage , Mortgage Broker , New to Canada Mortgage Program , Private Mortgage

While the rate of mortgage deferrals in Canada remains in the double-digits, it has been on the decline in recent months, blunting concern of a looming ‘debt deferral cliff’. Data collected by the Canada Mortgage and Housing Corporation (CMHC) and made available to Yahoo Finance Canada show that deferrals fell to 10.89 per cent in August from 12.28 per cent in July.

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Original Article Source Credits:   Yahoo Finance ,

Article Written By:  Stephanie Hughes

Original Article Posted on:  October 14, 2020

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