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Canada's Mortgage Delinquencies Are Rising Fastest in Ontario, Says Desjardins

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-- Mortgage delinquencies are rising fastest in Canadian markets where new mortgage sizes increased the most during the COVID-19 pandemic, said Desjardins.

Ontario metropolitan areas saw the largest jumps in average new mortgage sizes from early 2020 to the end of 2021 and more recently have seen a disproportionate increase in mortgage arrears, noted the bank.

Given Ontario's exposure to slower population growth, higher oil prices and the CUSMA trade deal review, housing markets in the province could continue to face headwinds over the rest of the year, stated Desjardins.

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