Mortgage payment deferral: Quebec is average

As of September, 5% of CMHC-insured mortgages in Quebec were deferring payments, the organization said. This is the same rate as in Canada as a whole and an improvement over July and August, when 7% of homeowners were unable to make their mortgage payments on time. It is not possible to compare with 2019, since these statistics have only been available since the pandemic, CMHC explained to CORPIQ.

In the Montreal and Quebec City regions, the deferral rate was also at 5% in September. The situation is more worrisome in the oil-producing provinces that had a mortgage default rate for September that was higher than the Canadian average: Newfoundland and Labrador (7%), Saskatchewan (8%) and Alberta (10%).

July is the worst month among the three for which CMHC has data. In Montreal, 9% of homeowners had difficulty making their payments on time, while 18 % in Edmonton had the same difficulties.