Investor Presentation
CA: Housing Finances
More than Half of Canadian Households
Don't Have a Mortgage or HELOC
% of households (2020 est.)
5-Year Mortgage Rates
Resetting Higher
200
5-year difference, basis points
4230225050
with HELOC
11.5
៩ ៩៩៩
150
100
1.9
0
-50
32.8
-100
15
29.1
24.3
-150
10
-200
Owned dwelling w/ mortgage Owned dwelling w/o
mortgage
Sources: Scotiabank Economics, Mortgage Professionals Canada.
Higher Home Equity in Canada
80
81565
60
equity as % of real estate assets
75
70
Cda estimate incl. HELOCS
50
45
Official FRB with NFPs
(incl. HELOCs)
Rented
forecast*
-250
10 11 12 13 14 15 16 17 18 19 20 21 22 23
*Based on Scotiabank Economics forecast of 5-year government of Canada bond yields
and the 2006-20 average spread
Sources: Scotiabank Economics, Bank of Canada.
Canadian Mortgage Delinquencies Declining
10
% of total loans past due three
Official (excl. HELOCs)
or more months
8
U.S. estimate with NFPs
6
excl. HELOCS
4
2
40
40
0
92 94 96 98
00
02 04 06 08
10
12 14 16 18
20
Sources: Scotiabank Economics, OSFI, FCAC, Statistics Canada, Federal Reserve Board.
92 94 96 98 00 02 04 06
Sources: Scotiabank Economics, MBA, CBA.
U.S. + foreclosures
U.S.
Canada
08 10
12
14
16
18
20 22
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