Around one-in-five mortgages in Alberta remains in deferral, the highest rate of any province in the country, according to the Canada Mortgage and Housing Corporation. CMHC president and CEO Evan Siddall said in a tweet on Tuesday that as of July, 21 per cent of mortgages in Alberta were deferred. The next highest deferral rates were in Saskatchewan and Newfoundland, tied at 14.8 per cent. The Conference Board of Canada forecasts Alberta will see its economy shrink by a historic seven per cent this year. Justin Havre with RE/MAX says the Alberta deferral numbers don't come as much of a surprise.

Source: CBC News August 26, 2020 14:48 UTC