In Canada, rising delinquencies in both mortgage and non-mortgage debt during the second quarter indicate the strain of high-interest rates on borrowers. Delinquencies for non-mortgage debt increased by 26.3%, with notable jumps in missed payments across various types of loans. Auto loans and home equity lines of credit (HELOCs) are nearly back to pre-pandemic levels, […]

While year-over-year core inflation has now stopped rising. Headline inflation has fallen from a peak of 8.1% to 6.9% The Bank of Canada has indicated its future rate decisions will be driven by economic data, but that it is “still prepared to be forceful” should the need arise. Deputy Governor Sharon Kozicki made the comment […]

With some variable rates higher than fixed rates, people are leaning towards fixed as their preferred rate. Now that the spread between fixed and variable rates has largely evaporated, a majority of borrowers are once again opting for fixed-rate mortgages. As of August, 44.2% of new mortgage borrowers chose a variable rate, down from a […]