Mortgage delinquencies rising with Canadians in “fragile financial state”

While Canadian homeowners are seeing some mortgage relief due to the Bank of Canada lowering its benchmark rate, a new report shows 2025 could usher in a wave of delinquencies. The Canada Mortgage and Housing Corp. (CMHC) says the mortgage delinquency rate — the proportion of Canadians who have missed payments on their mortgage for more than 90 days — continued to rise in the second quarter of 2024. And the CMHC expects a return to pre-pandemic delinquency levels by early 2025. Global’s Anne Gaviola has more on this troubling trend. For more info, please go to https://globalnews.ca Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Like Global News on Facebook HERE: http://bit.ly/255GMJQ Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB #GlobalNews #mortgagerates #economy