The Financial Services Regulatory Authority of Ontario (FSRA) published its second annual report on private residential mortgage lending, finding that activity declined slightly in 2024 but remained a significant source of financing for borrowers facing affordability challenges. Lower interest rates contributed to more borrowers seeking traditional mortgage options and a modest increase in overall mortgage activity in Ontario. The report is intended to inform FSRA’s mortgage sector supervision priorities and align consumer protection efforts with emerging risks. Private mortgages remain a key supervisory focus, particularly as delinquency rates have risen and vulnerable borrowers face increasing financial pressure; the analysis draws on Ontario land registry data from Teranet’s LendView platform.
Financial Services Regulatory Authority of Ontario 2025-08-20
Financial Services Regulatory Authority of Ontario publishes 2024 private residential mortgage lending report noting a modest dip and rising delinquencies
The Financial Services Regulatory Authority of Ontario (FSRA) released its second annual report on private residential mortgage lending, noting a slight decline in activity in 2024 despite its continued importance for borrowers facing affordability challenges. Lower interest rates led to increased traditional mortgage options and a modest rise in overall mortgage activity in Ontario. The report aims to guide FSRA's supervision priorities, focusing on private mortgages amid rising delinquency rates.