OTTAWA, June 13, 2017 — In spite of continued concerns regarding household debt in Canada, signs of stress on the mortgage market remain muted with consistently low mortgage delinquency rates. While it’s true that oil dependant markets like Calgary and Edmonton have seen a recent rise in delinquency rates, Vancouver and Toronto are recording some of the lowest rates in Canada – despite high home prices.

This analysis is part of CMHC’s newest product: Homeowners’ Debt at a Glance, a series of “quick-read” analyses of consumer credit data from the credit reporting agency Equifax focused on homeowners, mortgage holders and potential homebuyers’ debt and credit use. While the first quick-read gives insight into a few key indicators including mortgage delinquency rates, future releases will look at consumer debt levels, credit scores, household cash flow associated with debt, and consumer credit behaviour by age and homeownership status, among others.

CMHC recognizes that there are “data gaps” preventing us from having a complete picture of Canada’s housing and mortgage markets. CMHC now has access to consumer credit data collected by reporting agency Equifax and will be able to analyze the credit market in a way that’s never been done before. This quick-read and the publications that follow are part of an on-going effort to better understand factors influencing housing systems in Canada.


  • From Q3 2012 to Q4 2016, Canada’s mortgage market remained stable.
  • Mortgage delinquency rates and the share of mortgages granted to higher risk borrowers remained low and stable in 2016.
  • Oil dependent regions, notably Edmonton and Calgary, continue to see delinquency rates trending up.
  • Vancouver and Toronto continue to record some of the lowest delinquency rates in Canada.

To access future quick-reads and reports from CMHC, please subscribe to Housing Observer Online.

A national report further analyzing the Equifax data is scheduled to be released on June 29.

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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“We know there is a need for more reliable data to help policy makers analyze the key concern of rising household debt in Canada. The Equifax data allows us to expand our analysis beyond mortgages insured by CMHC and provide a level of detail never before available.”
— Maxim Armstrong, Senior Statistical Researcher, Canada Mortgage and Housing Corporation

Information on this release:

Audrey-Anne Coulombe
Media Relations

Date Published: June 13, 2017