Fitch Ratings stated that Canada's mortgage market remains resilient despite challenges from inflation and high interest rates, leading to increased mortgage payments for half of homeowners. Factors like employment stability, wage growth, and personal savings play a crucial role in managing mortgage debt. The majority of mortgage borrowers in Canada have maintained satisfactory payment records, with a small fraction experiencing delinquencies. Fitch anticipates a slight increase in delinquencies due to rising unemployment rates but remains cautiously optimistic about the market's resilience.
Continue to full article
Leave a Comment