Canada's Non-Bank Lenders See Arrears Rate Rise 11%, Despite Deferral Programs
Canada’s non-bank lenders saw an unusual situation – mortgage growth, and rising arrears. Statistics Canada (Stat Can) data shows non-bank lenders had a big quarter extending mortgages in Q2 2020. The large growth in mortgage extension was accompanied by a sharp uptick in arrears. Highly unusual since those trends tend to require conditions opposite of each other.
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: NA
Original Article Posted on: 15th December 2020
Link to Original Article: https://betterdwelling.com/canadas-non-bank-lenders-see-arrears-rate-rise-11-despite-deferral-programs/