Ontario, B.C. mortgage stress rises as joint borrowing grows: Equifax + MORE Sep 21st

The monthly budget has become a balancing act for many Ontario households. Mortgage or rent payments take up a large share of income, groceries and transportation costs continue to add up, and debt payments can leave little room for an unexpected expense.

As credit counsellors, this pressure is becoming increasingly visible in the conversations we’re having with clients who are struggling with their monthly debt payments. Often, the problem isn’t that people have stopped paying their bills. It’s that there isn’t enough money left over at the end of the month to keep everything on track. 

The latest insolvency data suggests that more Ontario households are reaching that point. According to the Office of the Superintendent of Bankruptcy (OSB), there were 14,642 consumer insolvencies in Ontario in the second quarter of 2026, an increase of 10.2% from the same quarter a year earlier. In the 12 months leading up to June 2026, Ontario recorded 55,968 consumer insolvencies, up 8…

Mortgage delinquencies remain relatively contained nationally, but Ontario and B.C. continue to show more pronounced stress as first-time buyers increasingly rely on joint mortgages.

New housing survey data show more homeowners struggling with higher payments, even as recent first-time buyers remain less likely than other owners to be in core housing need.