Tyler Fransen lost his home in Saskatoon due to financial struggles exacerbated by the COVID-19 pandemic, inflation, and personal losses. Many homeowners in Saskatchewan are falling behind on mortgage payments, with the province reporting the highest delinquency rate at 0.37 percent in early 2025, nearly double the national average. However, experts like Rebecca Oakes from Equifax highlight that the situation is improving, with fewer individuals missing payments compared to five years ago, contrasting with rising delinquency rates in Ontario. The Saskatchewan economy is improving, providing a hopeful outlook for homeowners in the province.
Tyler Fransen lost his Saskatoon home after missing mortgage payments due to financial circumstances and personal issues. He felt defeated after his father's death and losing his job as a contractor during the pandemic.
According to Equifax Canada, Saskatchewan had the highest mortgage delinquency rate among provinces but the situation is improving compared to five years ago with fewer people missing payments.
Rebecca Oakes noted that while Saskatchewan has concerns, it is better than it appears, with a declining rate of mortgage delinquencies compared to previous years.
Matt Fabian stated that the Saskatchewan economy is continuing to improve, showing a less severe trend in mortgage delinquencies compared to more significant increases in provinces like Ontario.
#mortgage-delinquency #financial-struggles #covid-19-impact #saskatchewan-economy #homeownership-challenges
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