Tyler Fransen lost his house of Saskatoon this spring after the mortgage payments were lost due to financial circumstances and life situations that sent him through the turning point.
“I felt a little defeated,” said Fransen, whose father recently died of cancer. “I was trying to do this alone and I didn’t want to load any of my family. We have many things.”
Fransen lost his work as a contractor during the Covid-19 pandemic. Then came inflation in materials, gas and groceries. Paying for your mortgage became increasingly difficult.
“I, like everyone else, I am not perfect and, therefore, for me to share this, it will give someone the idea that they are not alone, because that is what I felt for a while,” he said.
Fransen is not alone in his fight. Many housing owners in Saskatchewan and throughout the country are staying behind the mortgage payments, according to the latest statistics.
Tyler Franson is staying behind the payments of his mortgage and is not alone in Saskatchewan. But analysts say it is not as bad as the province seems.
Sask. It has the highest rate of all provinces
According to Equifax Canada, Saskatchewan had the highest mortgage crime (0.37 percent) in the first quarter of 2025 of all provinces and almost doubles the national average (0.19 percent).
However, experts say Saskatchewan is in a better place than it seems.
Rebecca Oakes, Vice President of Analytics Advanced in Equifax, said that less people are missing mortgage payments in Saskatchewan who five years ago.
“It is not great news, but it is an image in improvement. While areas like Ontario are still seeing significant increases,” said Okes.
“I know that for Ontario in particular, I think this is the highest level we have seen.”
Matt Fabian, director of Financial Services of Transunion Canada, agreed.
“Saskatchewan’s economy continues to grow, has the lowest unemployment rate in Canada,” Fabian said. “I think that when we look through Canada, southern Ontario and British columbia still face severe challenges of affordability and greater crime.”
Fabian said that many people face a payment shock that comes with the renewal of mortgages at rates that are highly high than those available during the pandemic. Inflation that makes everything else more expensive is a double blow.
“It is possible that a double or triple is renewing the rate you have,” said Fabian. “That has created this payment shock where we have seen that the average monthly payments of the mortgage increase from 10 percent to double.”
The biggest image
Both experts said they are observing closely as mortgage renovations continue, banks continue to reduce the fees and tariffs of the United States remain a key factor in economic stability.
“This type of crime rates will begin to stabilize as interest rates and inflation lower. What we are really seeing is the impact of things like rates,” said Fabian.
“When you think where the rates will be imposed, we do not believe that it is a national increase. We believe that those regions that have industries aimed at tariffs can begin to see unemployment rates, which is generally an omen of a certain crime.”
For Fransen, the experience of losing a house in which he put his time, effort and money has been painful, but he is trying to look at the positive side. He said that he can now concentrate on being there for his mother and for him.
For now, the bank has allowed him to stay at home until the mortgage execution and legal processes are completed.
“This situation has created movement in my life, and I am grateful for that,” Fransen said.
“I felt I was a little stuck.”
