Vancouver mortgage arrears hit decade high

Vancouver's housing market is showing significant stress as mortgage arrears hit their highest level in nearly a decade. Fixed mortgage rates have climbed to 4.04% while the Bank of Canada maintains its overnight rate at 2.25%, with a record number of loans resetting at higher rates in 2026. The average Vancouver home price remains at $1.1 million despite rare January-February price drops, while foreclosure activity accelerates sharply despite high inventory and weak sales.