Canadian mortgage payments shrunk noticeably in Q2
The amount Canadians paid towards mortgages during the second quarter noticeably declined by 4.74% from Q1 and by 3.32% annually, Statistics Canada data showed.
Overall Q2 payments amounted to $90.27 billion, around $4.49 billion lower than the quarter prior. A significant driver of this was the widespread implementation of payment deferral options among banks, according to real estate information portal Better Dwelling.
Original Article Source Credits: MortgageBrokerNews , https://www.mortgagebrokernews.ca/
Article Written By: Ephraim Vecina
Original Article Posted on: 29 Sep 2020
Link to Original Article: https://www.mortgagebrokernews.ca/news/canadian-mortgage-payments-shrunk-noticeably-in-q2-333732.aspx