Damien Dunn, Mortgage Specialist

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Mortgage deferrals in Canada hit half a million Apr. 3, 2020 7:52 AM ET|About: Bank of Montreal (BMO)|By: Liz Kiesche, SA News Editor Almost 500,000 requests for mortgage deferrals or skip a payment have been completed or are in process since Canada's bank announced a mortgage deferral program over two weeks ago. All together, the country's six largest banks have deferred more than 10% of the mortgages in their portfolio.... According to the Canada Mortgage and Housing Corporation, the average monthly mortgage payment of Canadian homeowners is C$1,326 (US$935M). Therefore, the cash flow freed up for Canadians from the deferrals completed to date is roughly C$663M per month, or almost C$2B