Wow, this year has just flown by. It’s already that most holy of holidays, that’s right, Festivus! I bet you all have been good little boys and girls, so come on up and get your presents… not so fast, Ernst & Young, you got some ‘splainin’ to do!

I was thinking of doing a “Naughty and Nice” list, an airing of grievances if you will, but that sounds like a lot of work, and I have a Christmas party to get to. The punch bowl isn’t going to spike itself, and without that my creepily hanging out underneath the mistletoe later in the night awkward and lonely. Hard work, but someone’s gotta do it. Instead I come bearing gift, an update on the mortgage arrears numbers. I know, I know, it’s not a Best Buy gift card, but it’s better than socks!

Mortgage Arrears

As you can see, we’ve hit yet another new high. Eclipsed the 0.80% mark even. Up from 0.78% last month, and 0.69% a year ago. Cue the chorus, we’re still WAY above the national average of 0.43%, or even the next highest regions, which is a position shared by B.C. and the Atlantic Provinces. Our eastern and western extremes might not have a whole lot in common, but they do share an 0.45% arrears rate.

On the opposite end of the spectrum, Manitoba continues to enjoy the lowest rate in the country at 0.29%. As Manitoba has largely remained unscathed by the housing foolishness that much the rest of Canada has experienced the last few years, I suspect they’ll hold that position for a long while. Saskatchewan comes in at 0.31%, good for second, but they are starting to creep up, and I suspect we will see that rise a fair bit as they’ve had quite a bubble of their own, nominally maybe not as large as ours, but proportionately maybe even larger.

And just for good measure, Ontario and Quebec reside in the middle, and both sit at 0.35%.

So, I’ll send you off on your holidays with that. Hope you’re done your Christmas shopping, or are at least ready for a good scrap for what’s left. I knocked mine out in a mere couple hours last Friday. Fortunately being a young single guy, I enjoy low expectations when it comes to presents. In other words, liquor and gift cards for everyone! I may be lame, but at least I’m self aware.

If you get a chance tonight (or better yet, fire up the PVR), check out a little flick on Movie Central called “Coopers Camera”… it’s a riot of a Christmas movie. It’ll send you into the horror of a weeks worth of family get togethers with a smile on your face, especially those other children of the 70′s/80′s out there! Be warned though, this isn’t one for the kiddies. Happy holidays everyone!