Q4 2020 Bank Earnings – The End of Mortgage Deferrals

When 2020 came to an end, so too did the vast majority of mortgage deferral programs offered by the Big 6 banks and other Canadian lenders. And, despite forecasts from early last year that arrears could skyrocket as a result of the pandemic, all ...
Q4 2020 Bank Earnings – The End of Mortgage Deferrals
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When 2020 came to an end, so too did the vast majority of mortgage deferral programs offered by the Big 6 banks and other Canadian lenders.

And, despite forecasts from early last year that arrears could skyrocket as a result of the pandemic, all of the big banks have reported that the far majority of mortgage deferral clients have successfully returned to making regular payments.

While a small percentage of loans have indeed become delinquent, so far 90+ day delinquencies from all of the banks remain little changes, and in several cases are lower than they were a year ago.

Despite the challenges of 2020, a number of the Big 6 banks remain generally optimistic about their prospects to grow and gain market share in 2021.

As we do every quarter, we’ve picked through the Big Banks’ quarterly earnings reports, presentations and conference calls, and compiled all the mortgage notables right here. Key tidbits are highlighted in blue.

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Steve Huebl

Steve Huebl

Steve Huebl is a graduate of Ryerson University's School of Journalism and has been with Canadian Mortgage Trends and reporting on the mortgage industry since 2009. His past work experience includes The Toronto Star, The Calgary Herald, the Sarnia Observer and Canadian Economic Press. Born and raised in Toronto, he now calls Montreal home.

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East Coast Mortgage Brokers is Newfoundland and Labrador’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.