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National Bank of Canada
Symbol NA
Shares Issued 391,289,273
Close 2025-06-03 C$ 134.26
Market Cap C$ 52,534,497,793
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Post says Big Six banks hear mortgage warning shots

2025-06-03 09:11 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Financial Post reports in its Tuesday edition that Canada's banks continue to deliver decent results. Post columnist Martin Pelletier writes, however, that beneath the surface of earnings beats and dividend hikes a growing undercurrent of risk is emerging, particularly in the housing market. While earnings remain robust, managements are clearly aware of the mounting pressures facing consumers and the broader economy. There is a looming risk we are keeping a close eye on: Ontario's real estate market. The province's 90-plus-day mortgage delinquency rate surged by 71.5 per cent year-over-year in the first quarter, the highest level since mortgage tracking began in 2012. In total, 1.4 million Canadians, or one in 22, missed at least one credit payment during the quarter. These figures point to a growing strain on household finances, particularly where home prices and debt levels soared in the pandemic. The situation is further complicated by what the Bank of Canada has dubbed the "mortgage renewal wall": Sixty per cent of all outstanding mortgages in Canada will renew in 2025 or 2026. Many of these loans originated during the pandemic at historically low fixed rates. Meanwhile, Realtors say home buyers are "hesitant."

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