GlobeNewsWire
24 Aug 2026, 09:45 UTC · 2h ago
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Mortgage holders in Ontario have seen 90+ day mortgage missed payments rise every quarter for the last four years. — Persistent, multi-year deterioration in the largest Canadian province's housing credit suggests systemic vulnerability and potential for increased loan loss provisions for lenders.
-0.70The 90+ day non-mortgage delinquency rate for Ontario mortgage holders rose 27% year-over-year to 0.86%. — This indicates a 'spillover' effect where housing stress is forcing homeowners to default on other credit obligations, signaling deeper financial distress.
-0.50Total Canadian consumer debt increased to $2.68 trillion, a 4.18% increase compared to Q2 2025. — Rising aggregate debt levels in a high-interest-rate environment increase the overall sensitivity of the economy to further shocks.
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National 90+ day non-mortgage balance delinquency rates dipped slightly to 1.76% in Q2 from 1.79% in Q1. — A slight seasonal improvement in delinquency suggests that the broader credit collapse has not materialized despite economic pressures.
+0.20Joint mortgages among first-time homebuyers increased from 57.6% in 2016 to 70.9% in Q2 2026. — While indicating affordability issues, the increased reliance on co-borrowers (often parents) provides a credit cushion that may prevent immediate defaults.
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