Equifax Canada's latest quarterly report points to rising financial pressure among Ontario homeowners. It also shows that most borrowers are still keeping up. Here's what the data says, how to read it, and what it means if your mortgage is up for renewal.
0.30% of Canadian mortgage balances 90+ days past due | +33.8% year over year change in that rate |
+27% Ontario mortgage holders' severe non-mortgage delinquencies | Oct 28 next Bank of Canada announcement |
What the Data Says
Equifax's Q2 2026 Market Pulse, released August 24, 2026, and reported by Canadian Mortgage Trends:
| Measure | Figure |
|---|---|
| Canadian mortgage balances | $1.97 trillion (up 4% year over year) |
| Mortgages 90+ days past due, by balance | 0.30% (up 33.8% year over year) |
| Mortgages 90+ days past due, by account | 0.23% (up 17.5% year over year) |
| Ontario mortgage holders' severe non-mortgage delinquencies, by balance | Up 27% year over year |
| Same measure, rest of Canada | Up 2% |
How to Read It
- The share is still small. A rate of 0.30% means the large majority of mortgage balances are current.
- The direction is what stands out. The rate of mortgages 90+ days past due is rising, and Ontario homeowners are missing more payments on other debts, such as credit cards and loans.
- The Ontario figure is not a mortgage-arrears figure. It measures missed payments on non-mortgage debt among people who have a mortgage. Equifax's Rebecca Oakes said Ontario mortgage holders are "still experiencing rising missed payments, particularly on their non-mortgage credit obligations."
Renewals Are Part of the Picture
Equifax expects the mortgage renewal cycle to remain a key source of pressure and says payment shocks could drive borrowers to move or switch lenders. For a closer look at how payments change, see our Bank of Canada Oct 28 renewal guide, with illustrative payment examples, and our look at what the renewal wave means for power of sale activity.
If You're Feeling the Squeeze
- Review all your debts, not only the mortgage. Missed payments elsewhere can affect your options at renewal.
- Contact your lender early, before a payment is missed. Lenders have more options earlier.
- Compare renewal offers. A mortgage broker can price the same term across lenders.
- Know the process. Understanding notice periods in a power of sale helps you act in time.
If You're a Buyer Watching This Market
Rising arrears can lead to more power of sale listings over time, but the link isn't automatic and the timing varies. Know what to prepare before you bid, and see what documents you need before bidding. Browse by city, including Toronto, Mississauga and Durham.
Source: Canadian Mortgage Trends, September 21, 2026, citing Equifax's Q2 2026 Market Pulse.
Concerned about a renewal or a payment you can't make? Contact our team and we'll walk through your options.
This article is for general information only and is not financial or legal advice. Figures are from Equifax data as reported by a trade outlet, as of October 2026. Speak with a licensed mortgage broker or a lawyer about your situation.
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