Ontario, B.C. Homebuyers Team Up for Mortgage Success: Equifax

Canada's mortgage market remains stable overall, with balances reaching $1.97 trillion. However, Ontario and British Columbia show rising severe mortgage delinquencies due to higher interest rates and living costs. First-time buyers increasingly rely on joint mortgages, especially in these provinces, often involving family support. New originations favor borrowers with strong credit. Mortgage renewals pose ongoing risks, requiring lenders to adopt region-specific risk models and strategies.