Comments on: Canadian Credit Delinquencies Are Rising For Everything But Mortgages

By: Randy

Randy — Tue, 07 Mar 2023 16:28:26 +0000

Just a guess but we are at the tip of the iceberg, people will cover all these extra costs any way they can, use any credit they have to stem the tide, until it’s all too much. Interest rate hikes have turned this into a tidal wave, come mortgage renewal time imagine 20 to 40% won’t be able to afford the house they have been living in for the last 3 to 10 years. And of course it’s the under 80k a year families that will pay in the end. As they always have, back to the trailer court you go. Interest should be given based on income, less you earn lower your rate, more you earn higher the rate, just like taxes. It’s a no brainer, evens the playing field and gets lower income people into homes that they will probably stay in for the rest of their lives so why not a 35 year mortgage locked in at 1%. Our country is set up backwards and favours and rewards only the wealthy, shame on us, shame on greed, shame on all forms of government with their heads in the sand.we can’t afford more carbon taxes, property taxes, utilities, insurance,, electric cars on a grid that can’t power them, food prices, tax on top of tax on top of tax, what’s that guy on the corner holding, a sign saying the end is near. Appears it has arrived.

By: Rene Nielson

Rene Nielson — Sun, 05 Mar 2023 12:21:02 +0000

It’s good to know that only the back half of the cruise ship is sinking, my cabin is up front and we are fine.

By: Mark

Mark — Sun, 05 Mar 2023 04:33:44 +0000

We must work hard to pay all our bills on time or we will not have any credit available. This does require income. We have high inflation and stagnant wages. Hoping for the best!

By: Jimmy

Jimmy — Fri, 03 Mar 2023 14:35:21 +0000

In reply to Jakes. Is this sarcastic?

By: Erik

Erik — Fri, 03 Mar 2023 06:42:16 +0000

In reply to Trader Jim.

Right?!? Hahahah.. so the first thing people will not pay will be bills and credit cards… Later if/when things get worse is with the housing and mortgage default happens….

People are defaulting on payments= we are in good shape financially…. Just what?!?

By: Erik

Erik — Fri, 03 Mar 2023 06:39:41 +0000

In reply to Mushmo. Some references and links to supporting information would be good to...

By: G

Fri, 03 Mar 2023 00:31:16 +0000

In reply to Ray. Also because a substantial amount of them have income from rent from such as basement apartments, or 2 families live in the house hold.

By: Trader Jim

Trader Jim — Thu, 02 Mar 2023 21:05:19 +0000

In reply to Mushmo. Had to check twice and then do a search, because I didn't see any content about BC. I just realized you're referencing the chart from Transunion. Technically the world's largest consumer credit agency needs a proof reading. haha. typos happen.

By: Trader Jim

Trader Jim — Thu, 02 Mar 2023 21:00:55 +0000

In reply to Jakes. Yeah, I mean if you don't understanding what you're looking at I can see that being the takeaway.

By: David

David — Thu, 02 Mar 2023 16:57:00 +0000

Mortgage Delinquencies and Defaults are lagging indicators. Look at the US Fed Data from the 2007/8 financial crisis. When you overlay house prices and defaults, you will see house prices started dropping in 2007, and delinquencies begin to rise until 2008. Even then, delinquencies didn’t peak until 2010.