Ontario credit unions lift profits as 90-day loan arrears climb
“It’s just that they’re going up quite rapidly and it’s a source of concern. Maybe I should extend it beyond Toronto to include southern Ontario as well – but then you have places like Alberta where the economy remains strong and arrears and delinquencies remain contained.”
Jessica Rickerby, President of CMBA-ON, and Aled ab Iorwerth, Deputy Chief Economist at CMHC, warn that rising interest rates could further challenge housing affordability and prolong mortgage renewal pressures for Canadian borrowers. https://t.co/9P0c7D7qBi
— Canadian Mortgage Professional Magazine (@CMPmagazine) November 2, 2026
What does the FSRA outlook mean for broker files?
The quarter predates tighter policy: the Bank of Canada held at 2.25% through June, then raised its rate to 2.50% on October 28.
Credit unions enter that shift with liquidity up 45 basis points to 12.88% and borrowings down 25.25%.
Lenders in the broker channel are already sharpening scrutiny. Jamie Doolittle, head of BMO BrokerEdge, spoke on a MortgageFest Canada panel on prime lending in September.
“We are very focused on making sure that the story and the documentation and the numbers align,” she said.
