Key takeaways
- Benchmark Canada says 90-plus-day mortgage arrears rose from 0.14% in August 2022 to 0.29% in September 2026.
- Canada remains among the lowest in the G7, but Benchmark says the increase is the fastest in the group.
- The national rate is still below Benchmark Canada’s cited long-run average of about 0.40%, so this is a strain signal — not proof that most homeowners are in crisis.
- Renewing homeowners and buyers should stress-test their own household budget, especially if employment, debt levels or local housing conditions are uncertain.
What changed on October 20
Benchmark Canada’s October 20, 2026 release, highlighted in the National Post, shows a sharp rise in Canadian mortgage arrears. The share of mortgages at least 90 days overdue doubled from 0.14% in August 2022 to 0.29% in September 2026.
That does not mean mortgage rules changed, and it does not point to a new government program. The important development is the latest comparison: Canada still has one of the lowest mortgage-arrears rates in the G7, but Benchmark Canada says its increase has been the fastest in that group.
Still low nationally, but moving in the wrong direction
The headline number remains below Benchmark Canada’s cited long-run average of about 0.40%. That matters. A 90-plus-day arrears rate of 0.29% is not evidence that most Canadian homeowners are in immediate danger, but it does show that more households are feeling financial pressure than they were a few years ago.
It is also important to understand what arrears means. In this context, delinquency refers to mortgage payments that are at least three months overdue. Lenders may work with borrowers before arrears reach that stage, which means early action can matter well before a file becomes part of the 90-day statistic.
CMHC’s latest published industry report offers a separate measure: national 90-plus-day arrears reached 0.24% in Q4 2025, up from 0.21% a year earlier. Because CMHC’s reporting period and Benchmark Canada’s latest release are different, those figures should not be treated as a direct month-to-month comparison.
The pressure is not the same everywhere
National averages can hide big regional and household differences. Benchmark Canada reporting cites a 0.46% arrears rate in Saskatchewan, compared with 0.18% in Quebec. It also notes that 30-to-60-day arrears have risen, while 60-to-90-day arrears were flat, which may reflect lenders intervening earlier.
The National Post report points to several risks for some borrowers, including higher renewal payments, investor-condo losses and employment weakness. It also cites economists who say the renewal-payment shock may be easing, while warning that job losses could still worsen conditions for affected households.
What homeowners and buyers should do with this information
- If your mortgage is coming up for renewal, review the new payment against your actual monthly cash flow before the deadline is close.
- If you are carrying other household debt, look at how those payments fit alongside your mortgage payment — not just whether each bill is manageable on its own.
- If you are buying, leave room in the budget for employment uncertainty or a softer local housing market, especially if your income is variable or your down payment is tight.
- If you are already worried about missed payments, do not wait until you are 90 days behind to understand your options.
For most Canadians, this data is not a reason to panic. It is a reason to plan earlier. A Finevo advisor can help you compare mortgage options across 40+ Canadian lenders, review renewal scenarios, and map out a practical plan based on your household budget before stress turns into arrears.
This article is general information about Canadian mortgages and is not financial advice. Rates, programs, and eligibility are subject to change and to lender and insurer qualification. Figures cited reflect market conditions at the time of writing. Speak with a licensed Finevo advisor for guidance specific to your situation.
