Canadian mortgage fraud spikes 52% as home prices soar

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House prices in Canada’s hottest cities are soaring, but the pressure to buy a home remains. The result? Mortgage fraud is spiking. Two-thirds of the mortgages flagged as suspicious were in Ontario, while 12 per cent were in B.C.

Most in Ontario and British Columbia

Most of the increase in mortgage fraud has taken place in Ontario and British Columbia, credit agency Equifax says in a new report. Those are the provinces that have seen double-digit price jumps in certain cities.

Read more at The Huffington Post.

This article is summarized by Canadian Fraud News Inc.