Saturday, 29 July 2023
By Leahs Mortgages
Leah Zlatkin interviewed by BNN Bloomberg: “As FCAC released new guidelines to protect mortgage owners, brokers say defaults still possible”
Leah Zlatkin, a mortgage broker and expert with LowestRates.ca, said in an interview with BNNBloomberg.ca Monday that despite outsized increases to interest rates, Canadians have largely been making their mortgage payments. However, she said that low mortgage delinquency rates are occurring among A-lenders, and it is less clear what is taking place among B-lenders and private lenders.
“We have to realize that this is only the tip of the iceberg, you can’t see the bottom of the iceberg below, we don’t know what is happening with B-borrowers and private borrowers,” Zlatkin said.
Following the release of the new FCAC guidelines earlier this month, Zlatkin said it could be “foreshadowing of some risks in the industry potentially.”
“If there’s no risk, why would they propose it if they didn’t think that there was some amount of certainty that there would be people going into default? Especially if there are increases in the unemployment numbers,” she said.
