British Columbia Delinquency Rates Tick Higher

Mortgage delinquency rates in BC have inched up to about 0.3% this quarter—both at the balance and account levels. This might seem like a small shift, but as someone deeply involved in mortgage lending across BC and Alberta, it’s clear these changes reflect mounting pressure on borrowers throughout one of Canada’s most expensive housing markets. The data shows that those with bigger mortgages are starting to feel the pinch more acutely, especially if their loans originated in 2022 or 2023. Subprime borrowers are feeling it the most, while 2024 mortgages are, so far, performing better. In my work, I see how affordability and sudden payment changes can hit homeowners hard, especially in high-cost regions like ours. It's a reminder that finding the right lending solution—tailored to your credit and circumstances—makes a real difference when market changes appear.