Mortgage delinquency rates in Ontario are higher than anywhere else in Canada

Mortgage delinquency rates in Ontario are the highest in Canada, with over 3,000 mortgages in severe delinquency, totaling over $1 billion—an increase of about 66% from last year. While inflation stabilizes and interest rates decrease, rising unemployment contributes to financial stress. Consequently, many young Canadians are delaying homeownership, with nearly 30% of households nationwide, and 33% in Ontario, having adult children living at home due to high living costs and limited job opportunities.