Bank of Nova Scotia Chief Executive Rick Waugh said on Tuesday that mortgage delinquencies have risen at Canada's third-biggest bank, but that he does not foresee a U.S.-style housing crash."We still anticipate what I would call in terms of housing, a soft landing, and all the metrics which we watch daily confirm that," Waugh told the bank's annual general meeting in Halifax, Nova Scotia.His comments, part of an answer to a shareholder question about risks for the bank from the domestic housing market, came as data showed Canadian housing starts edged higher in March, offering some reassurance that the housing market is cooling rather than crashing.Waugh said the rate of late payments at the bank has picked up, but said it anticipates no significant losses.
The Bank of Nova Scotia (the Bank) is a diversified financial institution. Shares of BNS traded higher by 0.77% or $0.43/share to $56.55. In the past year, the shares have traded as low as $48.45 and as high as $60.23. On average, 406252 shares of BNS exchange hands on a given day and today's volume is recorded at 280740.
Source
