Ontario’s mortgage delinquency rate has spiked by 52 per cent
Brampton leads the GTHA in missed payments
Delinquencies on mortgages jumped 52 per cent in Ontario in the first quarter of 2026 compared with the year before, according to a new report from Equifax Canada. Missed payments in the province are now at 0.36 per cent, up from 0.24 per cent. Over the same period, Brampton’s rate rose 64 per cent, to 0.64 per cent, while Toronto’s increased 58 per cent to 0.38 per cent.
The mortgage delinquency rate is the proportion of homeowners who have missed mortgage payments for a minimum of 90 days.
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At the same time, the number of Canadians filing for insolvency has risen to the highest level since the 2009 financial crisis, up 18.8 per cent year-over-year, says Equifax, indicating that consumers may have reached a “financial inflection point.” The rise was more dramatic for mortgage holders, whose insolvency rate has increased 11 per cent since the fourth quarter of 2025, compared with an increase of 4.7 per cent for non–mortgage holders.
Mortgage holders’ debt has grown by 19 per cent over the past two years, amounting to an average debt of $82,400 on top of their mortgages. “While the mortgage renewal wave is expected to slow toward the end of 2026, the transition to significantly higher interest rates continues to fuel financial impact and payment pressure,” said Rebecca Oakes, Equifax’s vice-president of advanced analytics. “Consequently, ongoing monitoring of debts remains essential for Canadians.”
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