Canada Regulator Warns of Mortgage Stress for Up to 150,000

As many as 150,000 Canadian borrowers will have trouble refinancing their mortgages over the next two years as they face a combination of declining home values and higher interest rates, according to the country’s top banking regulator.

“It’s going to be a tough next couple of years,” Peter Routledge, the superintendent of financial institutions, said Tuesday at a National Bank of Canada conference in Montreal.