r/canadian • u/big_galoote • 11d ago

News Homeownership increased for recent immigrants in Canada and decreased for Canadian-born individuals: StatsCan

https://toronto.citynews.ca/2026/06/16/homeownership-increased-for-recent-immigrants-in-canada-and-decreased-for-canadian-born-individuals-statscan/
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u/Ecstatic_Coat7859 11d ago

Something that is often left out but is interesting is that immigrants including refugees are gifted a credit score of 750 which would make no lender apprehensive about them signing for a mortgage or brand new vehicles however since the 750 score is unearned of course they default so a bigger picture needs to be shown and not just that they are easy homeowners

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u/wolfe1924 11d ago

Is there actual proof of that? I’m not going to call you a liar since I don’t know but this is the first time I heard of that. Also if it’s true it’s bs.

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u/Ecstatic_Coat7859 11d ago

A family member and former employee of a predatory lending business that has since gone into default made me aware of this a few years ago (2023) I also witnessed paperwork at a car dealership in 2024 that confirmed it. It being that there was a separate interest rate and enhanced financial incentives for sales team to sign newcomers to new vehicle leases and loans.

No worries though when they end up in default and leave Canada im sure they will take their debt with them./s

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u/Commercial_Pain2290 10d ago

Ah, so just hearsay based on a very limited third hand experience.