Canadian mortgage payments shrunk noticeably in Q2

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Mortgage Agents in High River

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.

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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

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