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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Sunday, January 16, 2022

Mortgages deferred among non-bank lenders continue to fall – StatCan

Share of mortgages in arrears among these lenders also reach a new low.

The value of deferred mortgages by non-bank lenders showed further declines during the first half of the year, according to Statistics Canada.

The total volume of mortgages deferred among these lenders dropped by approximately $1 billion (down 15%) from the first quarter of the year to reach $5.9 billion in Q2. The total number of mortgages deferred fell from approximately 100,000 non-bank mortgages in Q2 2020 to just 23,992 non-bank mortgages in the second quarter of this year, StatCan said.

Similar decreases were registered in the dollar share of non-bank mortgages in arrears for over 90 days, reaching a new record low in the second quarter. From Q1 to Q2, this sum fell by $96.2 million (down 11.1%) to $771.2 million, StatCan said.

The value of these mortgages accounted for just 0.2% of the total value of mortgages outstanding in the second quarter. This was the lowest this share has been since StatCan began tracking this metric, the agency said.

“With respect to value, the share of arrears over 90 days relative to mortgages outstanding varies between lender types: in the second quarter of 2021, mortgages in arrears for over 90 days accounted for 0.5% of the outstanding mortgages held by other lenders, five times more than for credit unions (0.1%),” StatCan said.

Uninsured products represented a little over half (53.9%) of these mortgages in arrears for over 90 days in Q2. However, the average value of a non-bank uninsured mortgage in arrears for over 90 days ($320,451) stood at a much higher level than that of a non-bank insured mortgage in arrears for over 90 days ($183,947), pushing the value of uninsured mortgages among non-bank lenders to 67.1% of the total value of mortgages in arrears for over 90 days, StatCan said.

MBN

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