Vancouver, Toronto Lead in Proactive Mortgage Monitoring: CMHC

The Canada Mortgage and Housing Corp. reports increasing financial stress among homeowners in Vancouver and Toronto, with missed mortgage payments expected to rise. First-time buyers from the low-interest COVID-19 period are more vulnerable. Over 1.5 million households have renewed mortgages at higher rates, with many extending amortization periods to lower monthly payments, though this increases long-term costs.