12:43:41 EDT Fri 01 May 2026
Enter Symbol
or Name
USA
CA



Bank of Montreal
Symbol BMO
Shares Issued 700,900,708
Close 2026-04-30 C$ 206.84
Market Cap C$ 144,974,302,443
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Globe says CIBC, rivals hear mortgage defaults rising

2026-05-01 07:29 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Globe and Mail reports in its Friday, May 1, edition that Brampton, Ont., has the highest mortgage delinquency rate among larger Canadian cities, according to Equifax Canada. The Globe's Rachelle Younglai writes that Brampton's rate of delinquencies -- defined as at least 90 days of missed payments -- has been rising at a faster pace than in the rest of the country. The Bank of Canada recently raised concerns about rising home loan defaults and said the delinquencies and upcoming mortgage renewals are risks to the country's financial system. While delinquencies are declining or stable in some parts of the country, they have been climbing in Ontario and British Columbia. In many Ontario cities, the delinquency rate more than doubled from 2022 through the end of 2025, albeit from a very low level. That includes in cities such as Ottawa, Kingston, Peterborough, Oshawa, Toronto, Hamilton, Kitchener, St. Catharines, London, Windsor and Barrie, according to data from Canada Mortgage and Housing Corp. Equifax has identified Brampton, Toronto, Markham, Oshawa and Vancouver as key cities driving the rise in delinquencies in Canada. There's a risk that defaults could mount further.

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