{"id":571607,"date":"2026-03-30T22:25:08","date_gmt":"2026-03-30T22:25:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/571607\/"},"modified":"2026-03-30T22:25:08","modified_gmt":"2026-03-30T22:25:08","slug":"canadian-banks-see-mortgage-delinquencies-hit-2015-recession-levels","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/571607\/","title":{"rendered":"Canadian Banks See Mortgage Delinquencies Hit 2015 Recession Levels"},"content":{"rendered":"<p>Canada\u2019s banks are facing their sharpest mortgage downturn in a decade. <a href=\"https:\/\/cba.ca\/\" rel=\"nofollow noopener\" target=\"_blank\">Canadian Bankers Association (CBA) <\/a>data reveals delinquent mortgage volumes surged again in January. Hitting a decade high, these volumes are pushing the arrears rate up sharply, with both metrics nearly doubling within four years.<\/p>\n<p>Canadian Mortgage Arrears Rate Hits 2017 Levels<\/p>\n<p>CBA reported mortgage arrears rate.<\/p>\n<p>Source: CBA; Better Dwelling.<\/p>\n<p>Canadian mortgage arrears climbed 1 basis point (bp) to 0.27% in January, up 5 bps from last year. While it may seem small, this means arrears have grown roughly 27% faster than total mortgages. The January rate is the highest level since 2017, excluding the brief spike at the onset of the pandemic.\u00a0<\/p>\n<p>Canada Sees Delinquent Mortgage Volume Hit 2015 Recession Levels<\/p>\n<p>The number of mortgages at least 90 days past due at Canadian banks.<\/p>\n<p>Source: CBA; Better Dwelling.<\/p>\n<p>The arrears rate isn\u2019t just climbing due to a drop in new mortgage originations; the absolute volume of delinquencies is surging. The number of mortgages at least 90 days past due (DPD) climbed 4.2% to 13,442 in January, up 20.8% (+2,311) from last year\u2014roughly double the record lows in mid-2022. Unlike the rate itself, sheer volumes haven\u2019t been this high since the mid-2015 oil recession.<\/p>\n<p>Canadian Banks See Longest Mortgage Contraction On Record<\/p>\n<p>Adding to the pressure: Canadian banks are losing market share. Their total mortgage count fell 0.2% in January to 4.95 million, marking the fourth consecutive drop. That figure is down 1.0% over the past year and 3.3% (-170.5k) since the June 2022 peak. This rare contraction is the longest on record, amplifying rising mortgage delinquencies.\u00a0<\/p>\n<p>Banks are losing ground on both fronts: borrowers are defaulting faster, with a lack of new originations to cushion the blow. This trend is beyond a quick fix, pointing instead to a deeper structural shift. Attempting to patch over the stress has only compounded the risks, <a href=\"https:\/\/betterdwelling.com\/canadian-regulator-secretly-threatens-banks-over-risky-mortgages-ahead-of-2027\/\" type=\"link\" id=\"https:\/\/betterdwelling.com\/canadian-regulator-secretly-threatens-banks-over-risky-mortgages-ahead-of-2027\/\" rel=\"nofollow noopener\" target=\"_blank\">forcing regulators to quietly intervene to prevent systemic failure<\/a>.\u00a0<\/p>\n<p>\n\tYou Might Also Like<\/p>\n","protected":false},"excerpt":{"rendered":"Canada\u2019s banks are facing their sharpest mortgage downturn in a decade. Canadian Bankers Association (CBA) data reveals delinquent&hellip;\n","protected":false},"author":2,"featured_media":571608,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-571607","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/571607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=571607"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/571607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/571608"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=571607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=571607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=571607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}