Canadians Cite Difficulty Paying Mortgages, Even Without Pandemic’s Financial Impact

Posted by BetterDwelling

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Most Canadians believe they’ll be able to pay their mortgage during the pandemic, it just won’t be easy for all. Mortgage Pros Canada (MPC), an industry group representing mortgage brokers, conducted a borrower survey on the impact of the pandemic. The survey yielded a number of interesting insights, but the most interest was the ability to pay. Most people are able to pay, but even some without a loss of income say they’ll struggle to pay their mortgage.

Canadians Without A Loss Of Income Say It’ll Be Difficult To Pay Their Mortgage

The vast majority of homeowners without a loss of income, are ready to pay their mortgage. Of these people, the survey found 67% will continue to make payments without a problem. Another 24% will make their payments, but with some difficulty. Overall, fewer than one in ten of people in this demographic will not be able to pay their mortgage regularly…CLICK for complete article