According to markets observers Murtaza Haider and Stephen Moranis, Canada’s arrears rate may double and even exceed the level reported during the Great Financial Crisis, in case mortgage payment deferrals aren’t extended. In their opinion, with the latest restarts, significant support from the government could...

The recent report by a credit rating agency Equifax Canada shows that an overall consumer debt was up by 2.8% and reached $1.99 trillion during the second quarter of this year. Growing mortgage balances raised an average debt per person by 2.2% annually to...

According to Toronto Regional Real Estate Board (TRREB) President Lisa Patel, August showed significant recovery in Greater Toronto Area (GTA) home sales, reaching a record monthly level. GTA REALTORS® report says there were 10,775 residential properties sold through TRREB’s MLS® System last month, marking...

During the pandemic, many Canadians got used to working from home, and now a new poll shows most workers are ready for this schedule to remain permanently. According to the recent report by ADP Canada and Maru/Blue, 45% of working respondents would prefer to...

Office of the Superintendent of Financial Institutions (OSFI) is beginning to phase out special regulatory capital treatment of deferrals amid improving economic situation. The new rules are effective immediately. They are applied to mortgage payment deferrals granted by the Big 6 banks until the...