Mortgage Digest: Arrears rise to highest stage since 2020, however stay low total

A complete of 12,236 mortgages had been in arrears by 90 days or extra at month-end, up from 12,040 in September and 11,430 in July.

The nationwide arrears charge elevated by 0.01 share factors from September and is up a full 10 basis points from mid-2023, when it stood close to historic lows round 0.15%. Whereas the tempo of improve has been gradual, October marked the fourth consecutive month-to-month rise.

Saskatchewan continued to submit the best arrears charge at 0.50%, adopted by Manitoba (0.35%) and Atlantic Canada (0.29%). Ontario’s arrears charge climbed to 0.26%, barely above the nationwide common, whereas Alberta matched the nationwide charge at 0.25%. British Columbia (0.21%) and Quebec (0.19%) remained under the Canadian common.

Regardless of the upward development, greater than 99% of Canadian mortgage holders stay present on their funds. The CBA has beforehand famous that arrears have a tendency to maneuver intently with labour market circumstances, suggesting that any sharper deterioration would probably require a extra sustained weakening in employment.

Residential mortgage lending lifts Ontario credit score union belongings above $102B

Ontario’s credit score unions continued to develop their residential mortgage portfolios within the third quarter of fiscal 2025–26, serving to push complete sector belongings above $102 billion, in response to FSRA’s Q3 Sector Outlook report.

FSRA describes the quarterly outlook as a “snapshot in time,” and the newest knowledge level to regular balance-sheet progress regardless of ongoing financial uncertainty. As of the tip of Q3 2025, complete sector belongings reached $102.83 billion, up about 4.1% year-over-year.

Residential mortgages remained a key progress driver, with balances rising $2.56 billion, or 4.69%, year-over-year, remaining close to historic progress charges.

Credit score high quality confirmed some softening in Q3, with residential mortgage delinquencies rising to 1.00%, up 57 foundation factors from a yr earlier and eight foundation factors from the prior quarter.

Profitability additionally held agency in Q3, edging as much as 31 foundation factors from 30 foundation factors within the prior quarter, supported by stronger mortgage curiosity revenue and decrease deposit prices.

Credit score unions continued to cut back their reliance on higher-cost funding, with borrowings declining each year-over-year and quarter-over-quarter.

Q3 snapshot:

Whole sector belongings: $102.83B (+4.12% y/y)
Residential mortgages: +$2.56B (+4.69% y/y)
Residential mortgage delinquencies: 1.00% (up 57 bps y/y; +8 bps q/q)
Business loans: +$1.90B (+7.39% y/y)
Profitability: 31 bps
Borrowings: down 3.0% y/y and 4.5% q/q

Canada’s luxurious housing market splinters by area as costs maintain regular

Canada’s luxurious housing market turned extra regionally divided in 2025, with gross sales slowing in Toronto and Vancouver whereas exercise picked up in Ottawa, Montreal and Halifax, in response to Engel & Völkers’ year-end report.

Nationally, common luxurious house costs had been largely unchanged, with the $1 million to $1.99 million phase remaining probably the most energetic throughout all markets.

“2025 marked a shift from momentum-driven shopping for to extra deliberate decision-making,” mentioned Stuart Siegel, president and CEO of Engel & Völkers Americas. “Patrons had been extremely selective, however they remained keen to pay for high quality, location and long-term livability.”

Toronto gross sales within the $1 million to $1.99 million vary fell 15% year-over-year, whereas Vancouver noticed a 9% decline. Costs in each markets held regular. In distinction, Ottawa posted a 33% improve in items offered in the identical phase, whereas Montreal noticed a 32% rise in $1 million to $3.99 million indifferent gross sales and Halifax recorded a 23% improve.

Engel & Völkers expects the posh market to stay selective in 2026, with efficiency persevering with to range by area.

AI platform Mave raises $5M as brokerages look to automate core workflows

As brokerages throughout actual property and mortgage channels look to chop administrative friction and scale operations, Toronto-based AI platform Mave has raised $5 million in seed funding to increase its brokerage-focused automation instruments.

“The true property business is at a turning level,” mentioned Raz Zohar, founder and CEO of Mave. “We’re constructing towards a future the place each Realtor has an AI associate that amplifies their experience, quite than replaces it.”

The spherical included new backing from Staircase Ventures, alongside returning buyers Relay Ventures, N49P and Alate Companions.

Mave says demand for its platform has accelerated quickly, with greater than 70% of brokers utilizing the product weekly. The corporate is at the moment onboarding roughly 8,500 Realtors and is working with dozens of main Ontario brokerages. One other 10,000 brokers and 100 brokerages are on a waitlist, in response to the corporate.

The funding will probably be used to increase Mave’s engineering and product groups and to help broader North American progress. Mave plans to develop its headcount to about 25 by year-end.

Mave’s platform makes use of MLS knowledge to construct brokerage- and board-compliant workflows tailor-made to every agent’s model. It’s designed to mechanically detect key itemizing and market occasions and generate brand-aligned advertising and marketing and communication campaigns with out guide enter from brokers.

Client confidence caught in impartial as housing outlook stays cautious

Canadian client confidence remained caught close to impartial in mid-January, with households nonetheless divided on the outlook for the economic system and actual property, in response to the newest Bloomberg Nanos Canadian Confidence Index.

The general index registered at 50.16, hovering simply above the impartial 50 mark. Whereas views on private funds improved modestly, expectations tied to the broader economic system and housing remained softer.

The Nanos Expectations Index, which tracks sentiment across the economic system and actual property, stood at 47.00. About 45% of Canadians count on the economic system to weaken over the subsequent six months, in contrast with 18% who anticipate enchancment. Views on actual property had been extra balanced: 35% count on house values of their neighbourhood to rise, 39% see costs holding regular and 19% anticipate declines.

“For the previous six months, client confidence has typically been in impartial territory as Canadians wait to see what the subsequent steps within the Canada-U.S. commerce relationship would possibly carry,” mentioned Nik Nanos, chief knowledge scientist at Nanos Analysis. “On this context, individuals are neither exuberant nor despondent.”

Subsequent Steps: Mortgage business profession strikes

Next Steps: Mortgage industry career moves

HomeEquity Financial institution names Yousry Bissada as president and CEO

HomeEquity Financial institution has appointed Yousry Bissada as its new president and chief govt officer, efficient Jan. 15, 2026. He succeeds Dan Jauernig, who had been serving as interim CEO and can return to his position as board chair.

Bissada brings greater than 30 years of expertise throughout the mortgage, banking and monetary expertise sectors. He joins HomeEquity Financial institution because it approaches its fortieth yr.

He most not too long ago served as CEO of House Belief and later as vice-chair of Fairstone Financial institution following the merger of House Belief and Fairstone. Throughout his tenure at House Belief, Bissada led the lender by a interval of stabilization, broker-market rebuilding and expertise modernization.

Learn extra: HomeEquity Bank taps Yousry Bissada as president and CEO

FSRA appoints Wing-Yee Wong as Chief Monetary Officer

The Monetary Providers Regulatory Authority of Ontario has appointed Wing-Yee Wong as its new chief monetary officer, efficient Feb. 2, 2026.

Wong brings greater than 20 years of monetary management expertise within the Ontario public sector. Most not too long ago, she served as director of finance, procurement and logistics at Elections Ontario, the place she oversaw monetary planning, controllership, payroll and services, and helped implement new finance and payroll methods forward of the 2025 provincial election.

She beforehand held senior roles at Provide Ontario and throughout a number of provincial ministries, managing large-scale budgets and main organizational and monetary transformation initiatives.

“Subsequent Steps” is a function in our Mortgage Digests that highlights notable job adjustments and profession developments inside the mortgage business. In case you have a job replace to share, we welcome your submissions to maintain the neighborhood within the loop.