The Globe and Mail reports in its Wednesday, April 22, edition that concerns have long existed about softening real estate markets in Ontario and British Columbia impacting mortgage losses at Canada's major banks. The Globe's guest columnist Hanif Bayat writes that data, however, reveals otherwise. Between Nov. 1, 2025, and Jan. 31, 2026, Canada's Big Six banks wrote off only $38-million from a $1.76-trillion mortgage portfolio. Over the past four quarters, total mortgage write-offs were just $168-million or 0.01 per cent of total mortgage holdings -- an astonishingly low figure. Banks have resilient for several reasons. First, defaults remain rare across the board. As of December, 2025, just 0.24 per cent of mortgage holders were more than three months in arrears. This reflects the strength of Canada's regulatory framework, particularly the mortgage stress test, building a buffer against adverse shocks. Borrower incentives reinforce this: Canadians go to considerable lengths to avoid default, knowing that lenders can pursue their other assets to recover outstanding balances. Second, risk is not shared equally among lenders. The Big Six have largely steered clear of the riskier end of the mortgage market.