Big 6 banks report over 500,000 Mortgage Deferrals
An excerpt states that:
"Canada’s Big Six are seeing deferrals expire, and people resume payment on tens of thousands of mortgages. There were 510,530 mortgages on payment deferral at the Big Six at the end of Q3, down 17.53% from the previous quarter. The mortgages are worth $136.27 billion, down 15.38% from Q2. How this number drops is important to understand, since not everyone took a deferral because they needed it."
I'm curious how many of these are actually people who needed the deferral as opposed to just getting it for the sake of having some extra cash around. Anyone know people who took advantage of the deferrals?