Non-permanent residents most likely to hold mortgages in Canada’s major centres

Report released on Tuesday by Canada Mortgage and Housing Corp.

A report released on Tuesday by Canada Mortgage and Housing Corp. says the share of mortgages held by non-permanent residents is most evident in Canada’s major metropolitan areas.

The Rise of Non-Permanent Residents and Their Effect on Housing report found that in 2016, 3.9 per cent of mortgages issued in Vancouver were held by non-permanent residents (NPR), followed by Edmonton (2.9 per cent), Toronto (2.7 per cent), Calgary (2.4 per cent) and Montreal (1.9 per cent).

“The growth in the number of mortgages held by NPR meant that in Vancouver, Toronto and Montreal their shares of total mortgages increased,” the report said.

“NPR mortgage numbers were steady in Edmonton and Calgary, where NPR are more concentrated in work permit holders, whose numbers were negatively impacted by economic conditions in commodity related industries.’

The full report can be found here.

non permanent residents, mortgages, cmhc

The views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.

You must be logged in to post a comment Login