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Debt-deferral cliff yet to cause major issues, bank results show

Author: External Author | | Categories: First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Industry , Mortgage Pre-Approval

If there’s a debt-deferral cliff, Canada’s biggest banks are only seeing a small percentage of borrowers go over it so far. Canada’s Big Six lenders all reported this week that the majority of loan-payment deferrals they provided to clients amid the coronavirus pandemic expired by the end of October and that most of those previously-deferring customers are back to paying down their debts.

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Original Article Source Credits: Financial Post,

Article Written By: Geoff Zochodne

Original Article Posted on: 3rd December 2020

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