Analysis of the consumer credit market by CMHC shows that the mortgage market remained stable in the first quarter of 2017.

The agency looked at Equifax data on credit use for a new report “Homeowners Debt at a Glance” and concluded that, despite concerns about household debt, there is little sign of mortgage stress.

The stable market, with generally low levels of delinquencies, remains even as monthly mortgage payments have risen above inflation.

The report notes though that there are rising delinquencies in Calgary, Edmonton and some other oil-dependent regions; in Toronto and Vancouver delinquencies are low despite rising house prices.

“We know there is a need for more reliable data to help policy makers analyze the key concern of rising household debt in Canada. The Equifax data allows us to expand our analysis beyond mortgages insured by CMHC and provide a level of detail never before available,” said Maxim Armstrong, Senior Statistical Researcher, Canada Mortgage and Housing Corporation.

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