RBC Financial Performance Update
Canadians have significant equity ownership in their homes
■ Canadians carry a significant and stable amount of equity in
their homes
■ The pace of residential mortgage accumulation re-accelerated
since mid-2019 after slowing to a 17-year low
Mortgage delinquency rates remain very low in Canada and
have been stable through recent credit cycles
■ RBC monitors its residential mortgage and broader retail
portfolios closely, and performs stress tests for dramatic
movements in house prices, GDP, interest rates, and
unemployment rates
Canadians maintain high levels of equity in their homes
80
75
70
65
60
55
50
45
45
Equity Ownership (1)
(Owners' equity as a % of total value of residential real estate assets)
-Canada
-U.S.
40
35
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21
Growth in residential mortgages has re-accelerated
Residential Mortgage Growth (2)
(Year-over-year % change)
The mortgage delinquency rate still near a 30-year low in
Canada
Mortgage Delinquencies (3)
16
14
12
10
8
6
4
2
6
(Mortgages 90+ days in arrears as a % of total mortgages)
-Canada
-U.S.
5
4
3
2
1
0
91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
13 14 15
16 17 18
19 20 21
0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21
(1) Statistics Canada, Federal Reserve Board, RBC Economics. (2) Bank of Canada, RBC Economics. (3) Canadian Bankers Association, Mortgage Bankers Association, RBC Economics.
50 CANADIAN HOUSING MARKET
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