Missed mortgage payments in Toronto have quadrupled
Nearly 2,800 GTA mortgage consumers were in arrears during the third quarter of 2025, according to a new report
A new report has found that the number of Toronto homeowners who find themselves unable to meet monthly mortgage payments has more than quadrupled over the last three years.
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According to the Canadian Mortgage and Housing Corporation’s report, published this week based on Equifax data, 2,797 mortgage consumers in the GTA were in arrears during the third quarter of 2025. This is a steep increase compared to the 662 mortgage consumers who were in arrears during the same period in 2022.
“The acceleration in mortgage arrears in Toronto is being driven by several interconnected pressures,” the report says. These pressures include higher household debt levels, slower housing sales and declining home prices.
“We’ve been seeing mortgage arrears increase quite steadily for the last two to almost three years, but that increase is steadily being driven by the Toronto market,” Tania Bourassa-Ochoa, deputy chief economist at the CMHC told CTV News.
“The main driver, historically speaking, of mortgage arrears is unemployment,” she continued.
The GTA’s delinquency pressures will likely stay elevated throughout 2026, according to the report.
Related: Toronto home sales are the lowest in a quarter century
Carly Lewis is a journalist whose work has appeared in the New York Times and the New York Times Magazine, Vanity Fair, Wired, Interview Magazine, Pitchfork, Elle, and Maclean’s, where she is a contributing editor. Her work has been recognized by the National Magazine Awards and the Digital Publishing Awards. She reports on city life, culture—including what people do online—politics, art and crime. She received the Dave Greber Freelance Writers Award for “The Murder of Ashley Wadsworth,” an investigative feature about a Canadian teenager who was killed by a man she met on social media, published by Maclean’s.
