January 26, 2021, by The Canadian Press
OTTAWA — Canada’s housing authority says retail, construction and services workers were the most common deferrers of mortgage payments in the first few months of the COVID-19 pandemic.
CMHC says the high numbers of deferrals correlated with data showing the retail, construction and service industries were hit with the largest increases in unemployment during the COVID-19 pandemic.
CMHC says by the end of June, 17.9% of people with outstanding homeowner mortgages insured by CMHC had exercised payment deferral options and the bulk of those people seeking deferrals were in Quebec, Alberta, Ontario and British Columbia.
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