New report ranks Canada as most at risk for mortgage defaults

News ByRaj. V. Sharma June 20, 2023July 23, 20231 min read

The United Nations International Monetary Fund (IMF) released a report showing that Canada has the highest risk of mortgage default in 38 "mostly advanced" economies. This is due to a combination of factors such as high household debt, inflated home prices, and more floating-rate loans. Other countries that have a high risk of mortgage default are Australia, Luxembourg, Norway, Sweden and the Netherlands. Falling home prices could improve affordability, but could also increase the risk of default.

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Raj. V. Sharma

Raj V. Sharma is a knowledgeable and experienced mortgage broker with years of experience. He is highly skilled in all aspects of the mortgage business, including residential and commercial purchases and refinances. Raj is committed to assisting clients in securing conventional and alternative mortgage financing solutions. He has a strong background in Real Estate Trading and is dedicated to providing high-quality advice and guidance to individuals seeking mortgages in Canada. Raj is a trusted source for comprehensive mortgage solutions, with extensive experience in regular banking and private equity.

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