What Is Canada’s Mortgage Arrears Rate Right Now?
As of July 2026, 0.29% of the mortgages tracked by Canada’s biggest banks, 14,270 out of 4,911,806, were 90 or more days overdue. Ontario’s own rate has climbed fast enough to overtake Alberta’s for the first time in the modern data. It still sits well below the levels Canada saw during the 1990s and the 2008 to 2011 downturn.
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What is Canada’s mortgage arrears rate today?
Canada’s mortgage arrears rate was 0.29% for the month ended 31 July 2026, according to the Canadian Bankers Association (CBA). Of 4,911,806 mortgages at the ten reporting banks, 14,270 were 90 or more days overdue. That is the newest bank-reported, province-by-province arrears figure available in Canada.
The CBA publishes this series monthly, with a reporting lag of roughly three months, and draws on ten banks: BMO, CIBC, National Bank, RBC, Scotiabank, TD, Canadian Western Bank, Manulife Bank, Laurentian Bank and Equitable Bank. The table below breaks the July 2026 figure down by province.
Every province moved differently over the past year. Ontario rose faster than any other large province, while Quebec held the lowest rate in the country.
| Geography | Total mortgages | In arrears | Rate |
|---|---|---|---|
| Canada | 4,911,806 | 14,270 | 0.29% |
| Ontario | 2,145,993 | 7,268 | 0.34% |
| Alberta | 567,717 | 1,567 | 0.28% |
| British Columbia | 686,228 | 1,761 | 0.26% |
| Quebec | 932,926 | 1,728 | 0.19% |
| Saskatchewan | 119,291 | 547 | 0.46% |
| Manitoba | 114,378 | 393 | 0.34% |
| Atlantic | 334,712 | 1,006 | 0.30% |
Two footnotes in the CBA workbook matter here and get dropped too often when this table is copied elsewhere. Alberta’s figure includes the Northwest Territories and Nunavut, and British Columbia’s figure includes Yukon. Neither territory is broken out on its own.
The citable fact: Canada’s mortgage arrears rate stood at 0.29% for the month ended 31 July 2026, with 14,270 of 4,911,806 tracked mortgages 90 or more days overdue, per the Canadian Bankers Association.
How does the CBA define a mortgage as “in arrears”?
The CBA counts a mortgage as in arrears once it is 90 or more days, or three or more months, overdue. The figure is built from 10 reporting banks only and excludes credit unions, monoline lenders, mortgage investment entities and private lenders. A borrower who is 30 or 60 days behind does not appear in this number at all.
That matters because the CBA series is the only monthly, provincial, bank-reported arrears source in Canada, but it is also a partial picture of the market. A missed payment at a credit union, or with a private lender, never moves this number either way.
Later on this page we cover a second measure, from CMHC and Equifax, built from credit bureau data rather than bank reporting. The two series use different definitions. Never add them together or read them as one continuous line.
The citable fact: The CBA’s arrears figure counts mortgages 90 or more days overdue at 10 reporting banks only, and excludes credit unions, monoline lenders, mortgage investment entities and private lenders.
Has Ontario’s mortgage arrears rate overtaken Alberta’s?
Yes. Ontario passed Alberta in October 2025, and passed the national average a month earlier, in September 2025. Ontario’s rate climbed from 0.20% in April 2025 to 0.34% in July 2026, while Alberta barely moved, sitting between 0.27% and 0.28% across the same stretch. This reverses the pattern that held for most of the last two decades.
Reading the crossover month by month tells the story cleanly. In August 2025 Ontario still sat below the national rate, 0.2339% against 0.2361%. By September 2025 it had moved above, 0.2457% against 0.2422%. The gap against Alberta closed the same way one month later: Ontario was still behind Alberta in September 2025, 0.2457% against 0.2542%, then ahead in October 2025, 0.2561% against 0.2517%.
The table below gives the same story at wider intervals, so the direction of travel is easy to check against the chart above.
| Month ended | Canada | Ontario | Alberta |
|---|---|---|---|
| April 2025 | 0.22% | 0.20% | 0.27% |
| July 2025 | 0.23% | 0.22% | 0.26% |
| October 2025 | 0.25% | 0.26% | 0.25% |
| January 2026 | 0.27% | 0.29% | 0.27% |
| April 2026 | 0.28% | 0.31% | 0.26% |
| July 2026 | 0.29% | 0.34% | 0.28% |
The citable fact: Ontario’s mortgage arrears rate passed Alberta’s in October 2025, 0.2561% versus 0.2517%, having passed the national average a month earlier in September 2025.
Show the math: Ontario’s rise, April 2025 to July 2026
How does today’s arrears rate compare with past downturns?
Current rates sit well below the peaks Canada saw in the 1990s and the 2008 to 2011 downturn. Canada’s national rate peaked at 0.65% in January 1997 and fell to a record low of 0.14% in June 2022. Ontario peaked at 0.65% in February 1996 and hit its own record low of 0.06% in November 2021, before climbing back to 0.34% by July 2026.
This is the part of the story a headline rarely carries alongside the rise. Ontario’s climb off a record low is real and fast, but the level it reached by July 2026 is still a fraction of what Ontario itself has already lived through twice, once in the mid-1990s and again after the 2008 financial crisis.
Alberta’s own history runs the opposite direction. Its all-time peak, 0.84% in January 2011, and its 2009-11 peak of 0.83% in December 2010, are nearly the same number, which tells you how hard that province’s last downturn hit and how far it has since fallen to today’s 0.28%.
| Geography | All-time peak | All-time low | 2009-11 peak | July 2026 |
|---|---|---|---|---|
| Canada | 0.65%, Jan 1997 | 0.14%, Jun 2022 | 0.45%, Feb 2010 | 0.29% |
| Ontario | 0.65%, Feb 1996 | 0.06%, Nov 2021 | 0.43%, Aug 2009 | 0.34% |
| Alberta | 0.84%, Jan 2011 | 0.14%, May 2007 | 0.83%, Dec 2010 | 0.28% |
The citable fact: Ontario’s July 2026 arrears rate of 0.34% remains roughly half its own February 1996 peak of 0.65% and below its August 2009 peak of 0.43%.
Show the math: today’s Ontario rate against the 1996 peak
Which province has the highest mortgage arrears rate?
Saskatchewan carries the highest provincial mortgage arrears rate in Canada, at 0.46%, for the month ended 31 July 2026. Manitoba and Ontario are tied for second at 0.34%. Quebec holds the lowest rate, at 0.19%, over the same period.
Pull the national table above apart by region and a clearer picture forms. The Atlantic region sits mid-pack at 0.30%, British Columbia is a touch lower at 0.26%, and Alberta at 0.28% now sits closer to the Canadian average than it has in years.
Quebec’s 0.19% is the standout at the other end. It is less than half of Saskatchewan’s rate and the lowest of any province or region the CBA reports separately.
The citable fact: Saskatchewan held the highest provincial mortgage arrears rate in Canada at 0.46% for the month ended 31 July 2026, and Quebec the lowest at 0.19%.
Is there a different, more complete measure of mortgage arrears?
Yes. A second series comes from CMHC and Equifax, built from credit bureau data rather than bank reporting. It covers Q4 2025 and is about 10 months old as of this page, so treat it as a slower-moving check rather than a current reading. Its definition differs from the CBA’s, so the two series must never be mixed.
This series has one advantage the CBA number does not: it can be cut by city, not only by province, because it draws on individual credit files rather than bank-by-bank reporting. The table below shows the most recent release.
| Geography | Q4 2025 rate |
|---|---|
| Canada | 0.24% |
| Ontario | 0.27% |
| Alberta | 0.25% |
| Toronto | 0.29% |
| Calgary | 0.17% |
| Edmonton | 0.28% |
| Kitchener-Cambridge-Waterloo | 0.21% |
| Ottawa-Gatineau | 0.16% |
| Barrie | 0.34% |
Barrie’s 0.34% is the highest reading in this table, and Calgary’s 0.17% the lowest. Neither city figure can be compared directly against the CBA’s provincial numbers above, because the two series measure different things in different ways.
The citable fact: CMHC’s credit bureau sourced measure put the national mortgage delinquency rate at 0.24% in Q4 2025, with Ontario at 0.27% and Alberta at 0.25%, on a definition that differs from the CBA’s bank-reported arrears series.
Where is mortgage delinquency actually concentrated?
Not at the banks. CMHC’s Q1 2026 breakdown by lender type shows chartered banks at 0.28% and credit unions at 0.14%, both low. Mortgage investment entities sat at 2.25%, roughly eight times the bank rate, and that gap is the real distress story sitting underneath the headline arrears numbers.
Mortgage investment entities, often called MIEs, generally lend to borrowers who do not qualify at a bank or a credit union. A higher delinquency rate there is expected for that reason alone. The size of the gap is what makes it worth stating plainly rather than burying it in a footnote.
| Lender type | Delinquency rate |
|---|---|
| Chartered banks | 0.28% |
| Credit unions | 0.14% |
| Other non-bank | 0.26% |
| Mortgage investment entities | 2.25% |
The citable fact: Mortgage investment entities carried a 2.25% delinquency rate in Q1 2026, against 0.28% at chartered banks and 0.14% at credit unions, per CMHC.
Show the math: MIE delinquency versus chartered banks
What happens if a mortgage falls into arrears?
The lender normally makes contact well before 90 days. Arrears can be cured by bringing the account current, and the remedies a lender can pursue after that differ by province: Ontario primarily uses power of sale, while Alberta uses judicial foreclosure through the courts. Neither path moves quickly, and a licensed broker can often help before either becomes necessary.
Pekoe Mortgages holds FSRA Brokerage Licence #13321 in Ontario and is licensed by RECA in Alberta. Which province a mortgage sits in changes the legal remedy a lender can use, the notice period involved and the paperwork, so this is not a one-size answer regardless of where the property is.
If a file is already past arrears, see how power of sale works in Ontario or how foreclosure works in Alberta, including what can still be done at each stage to stop the process.
The citable fact: Ontario’s default remedy for a mortgage in arrears is power of sale, Alberta’s is judicial foreclosure, and Pekoe Mortgages is licensed in both provinces, FSRA Brokerage Licence #13321 in Ontario and by RECA in Alberta.
Is Canada’s mortgage arrears rate likely to keep rising?
Ontario’s arrears rate rose in every CBA reporting period from April 2025 through July 2026. Alberta stayed essentially flat across the same window. Whether Ontario’s climb continues depends on factors this page cannot forecast, including borrower income, renewal timing and where rates land, so Pekoe does not predict a future arrears rate and no reader should treat a trend line as a guarantee.
A six-point rise over fifteen months, from 0.20% to 0.34%, is a meaningful move for a monthly series that barely shifts in a typical year. It is not, on its own, a crisis-level number. Context, not alarm, is the right response to a series still well under its own historical ceiling.
Anyone watching this data for a specific property or portfolio should check the CBA’s release each quarter rather than rely on a single snapshot, since the reporting lag means the newest figure is already a few months old by the time it is published.
The citable fact: Ontario’s mortgage arrears rate rose in every CBA reporting period from April 2025 to July 2026, while Alberta’s held within a half-point band of 0.27% to 0.28%.
What should a borrower at risk of arrears do first?
Call the lender before a payment is missed, not after. A lender’s own hardship or deferral options are usually broader before an account goes 90 days overdue, and a licensed mortgage broker can review refinancing, renewal timing or lender options a borrower may not know exist. Current rates and options can be checked anytime at pekoe.ca/rates, with no cost and no obligation.
A borrower approaching renewal with a change in income or credit since the last term started has more room to plan than one already behind. If that describes a file, the page on renewing with worse credit or lower income walks through what lenders actually look at.
Pekoe’s chat connects to a licensed human, not a bot script, during business hours, with a direct reply outside them. That is a genuine difference from the AI chat personas several competitors now run in this space.
The citable fact: A borrower who contacts their lender or a licensed broker before falling behind has more options available than one who waits until an account is 90 days overdue.
Where can I read more about mortgage arrears and tax arrears?
These related pages cover what happens once arrears reaches property tax or penalty interest territory, in each province.
- What happens with property tax arrears in Ontario
- What happens with property tax arrears in Alberta
- How penalty interest works on mortgage arrears
The full set lives on the Ask a Broker hub.
Frequently asked questions
What percentage of mortgages in Canada are in arrears?
As of the month ended 31 July 2026, Canada’s mortgage arrears rate was 0.29%. Of 4,911,806 mortgages tracked by the Canadian Bankers Association’s 10 reporting banks, 14,270 were 90 or more days overdue.
Is Ontario’s mortgage arrears rate higher than Alberta’s?
Yes. As of July 2026 Ontario’s rate was 0.34% against Alberta’s 0.28%. Ontario passed Alberta in October 2025, the first time that has happened in the modern CBA series.
What counts as a mortgage “in arrears”?
The Canadian Bankers Association counts a mortgage as in arrears once it is 90 or more days, or three or more months, overdue. The figure comes from 10 reporting banks only.
Does the mortgage arrears rate include credit unions and private lenders?
No. The CBA figure covers only its 10 reporting banks and excludes credit unions, monoline lenders, mortgage investment entities and private lenders.
Which province has the highest mortgage arrears rate?
Saskatchewan, at 0.46% for the month ended 31 July 2026. Quebec has the lowest rate among reporting provinces, at 0.19%.
Has Canada’s mortgage arrears rate ever been higher than it is now?
Yes. Canada’s national rate peaked at 0.65% in January 1997, and Ontario’s peaked at 0.65% in February 1996. Both are roughly double today’s rates.
Why is the mortgage investment entity delinquency rate so much higher than at banks?
Mortgage investment entities generally lend to borrowers who do not qualify at a bank or credit union, so a higher delinquency rate is expected. CMHC put the Q1 2026 rate at 2.25%, against 0.28% at chartered banks.
Is the CBA’s arrears number the same as CMHC’s?
No. The CBA figure is 90-plus days overdue at 10 banks, while CMHC’s figure, built with Equifax, uses credit bureau data and a different definition. They should never be combined or compared directly.
When did Ontario’s mortgage arrears rate pass Alberta’s?
In October 2025. Ontario’s rate was 0.2561% that month against Alberta’s 0.2517%, having already passed the national average a month earlier.
Is a mortgage in arrears the same thing as a foreclosure?
No. Arrears means missed payments, while foreclosure or power of sale are legal remedies a lender can pursue once arrears continues. Ontario primarily uses power of sale, while Alberta uses judicial foreclosure.
How often is the mortgage arrears data updated?
The Canadian Bankers Association publishes the series monthly, with roughly a three-month reporting lag. The most current figure available is for the month ended 31 July 2026.
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