{"id":7049815,"date":"2026-08-28T07:57:52","date_gmt":"2026-08-28T07:57:52","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/canadian-bank-mortgages-near-6-year-low-as-arrears-barely-budge\/"},"modified":"2026-08-28T07:57:52","modified_gmt":"2026-08-28T07:57:52","slug":"canadian-bank-mortgages-near-6-year-low-as-arrears-barely-budge","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7049815","title":{"rendered":"Canadian Bank Mortgages Near 6-Year Low As Arrears Barely Budge"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div itemprop=\"mainEntityOfPage\">\n<p class=\"wp-block-paragraph\">Canada\u2019s banks just saw the first improvement in missed mortgage payments in nearly a year and a half. <a href=\"https:\/\/cba.ca\/about-us\/about-cba\">Canadian Bankers Association (CBA)<\/a> data shows the mortgage arrears rate fell in June. While not much of a reduction, any signs of stabilization are welcome. Unfortunately, it\u2019s not clear that is what\u2019s actually happening here. The improvements are largely the result of a rounding skew, while bank mortgages have hit an almost 6-year low.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>Canadian Mortgage Arrears Rate Makes First Drop In Over A Year<\/strong><\/h2>\n<p class=\"wp-block-paragraph\"><em>Canadian bank mortgage arrears rate: Mortgages 90 days past due (DPD) as a share of total mortgages.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\"><em>Source: CBA; Better Dwelling.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\">The mortgage arrears rate at Canadian banks fell for the first time in well over a year. The rate fell 0.1 basis point (bp) to 0.28% in June, remaining 5 bps above last year. This was the first monthly decline for the rate since March 2025, which is a welcome improvement. However, the rate is still double 2022\u2019s lows, and the progress looks even smaller when broken down.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>Canadian Mortgage Arrears Improvement Was Just 40 Fewer Arrears<\/strong><\/h2>\n<p class=\"wp-block-paragraph\"><em>Canadian bank mortgage arrears: Total number of mortgages 90 days past due (DPD) held by banks.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\"><em>Source: CBA; Better Dwelling.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\">Breaking the rate down reveals just how big (or tiny) this improvement actually was. Banks saw mortgages in arrears fall 0.28% (-40) to 14,021 in June, up 25.2% (+2.82k) from last year. That\u2019s right, just 40 fewer mortgages in arrears dragged that rate lower. It was on the rounding threshold\u20140.285% in May vs 0.284% in June. The minor shift was just enough to produce the first drop in over a year, but the rounding did most of the work here.\u00a0<\/p>\n<h2 class=\"wp-block-heading\"><strong>Canadian Bank Mortgages Fall To Lowest Level In Nearly 6 Years<\/strong><\/h2>\n<p class=\"wp-block-paragraph\"><em>The total number of residential mortgages held by Canadian banks.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\"><em>Source: CBA; Better Dwelling.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\">Net mortgage originations continue to slide lower at Canada\u2019s banks. The number of mortgages on their books fell 0.02% (-777) to 4.92 million in June, 0.71% (-35.2k) lower than last year. The drop marked the ninth straight month, leaving banks with the fewest mortgages since October 2020, nearly 6 years ago.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The arrears rate made its first drop in well over a year, but it was only a few dozen shy of the prior month. That\u2019s far from the recovery signal many are likely to see looking at just the rate alone. However, fewer bank mortgages may also be a bigger red flag than the actual arrears rate. Banks often sell underperforming mortgages or deny renewals, sending those borrowers to B lenders. If that\u2019s what drove the minor reduction, we have a different story here. Fewer mortgages in arrears and fewer mortgages in arrears at banks but more at B lenders, aren\u2019t the same. They also mean very different things for the general economy.\u00a0\u00a0<\/p>\n<p><h3 class=\"jp-relatedposts-headline\"><em>You Might Also Like<\/em><\/h3>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s banks just saw the first improvement in missed mortgage payments in nearly a year and a half. Canadian Bankers Association (CBA) data shows the mortgage arrears rate fell in June. While not much of a reduction, any signs of stabilization are welcome. Unfortunately, it\u2019s not clear that is what\u2019s actually happening here. The improvements [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7049816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[111803,37582,2331,75707,212347,14072,21543],"dealstore":[],"offerexpiration":[],"class_list":["post-7049815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-6year","tag-arrears","tag-bank","tag-barely","tag-budge","tag-canadian","tag-mortgages"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadian Bank Mortgages Near 6-Year Low As Arrears Barely Budge - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7049815\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Bank Mortgages Near 6-Year Low As Arrears Barely Budge - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Canada\u2019s banks just saw the first improvement in missed mortgage payments in nearly a year and a half. 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