Canada’s Mortgage Arrears Are Now Growing Faster Than The ’90s
Canada’s banks aren’t worried about mortgage arrears—but should they be? The arrears rate climbed again in August, according to the Canadian Bankers Association (CBA), which represents the country’s largest lenders. Investors have brushed off the rise as a return to normal after record lows. What they may not realize is that the late 1980s also saw a record low—followed by a long, painful climb. This time, it’s rising even faster.
