Canadian households are struggling to manage their astronomical debt loans. That’s the warning from credit rating agency Equifax Canada, who noted a surge in both mortgage and non-mortgage credit delinquencies in Q4 2023. The issue is emphasized in pricey BC and Ontario, especially when it comes to young adults. Canadian Mortgage Delinquency Rates Are Climbing […]
Canadian subprime credit inquiry volumes are falling, but still lead the market. TransUnion updated some of its credit indicators for Q2 2021 today. Overall improvements are seen in credit health, with high-quality borrowers leading in growth. However, the subprime segment has been contracting at a smaller and smaller rate. Smaller contractions can mean the segment […]
Canadians are suddenly pulling back on their new vehicle buying binge. Statistics Canada (Stat Can) data shows new vehicle sales grew on an annual basis in May. Sadly, it wasn’t because the market was experiencing robust growth. It was due entirely to the base effect of comparing sales to an early pandemic month. Zooming out, […]
More Canadian consumers are carrying a balance on their credit cards these days. Bank of Canada (BoC) numbers show credit card debt hit a new high in September. The increase in iva debt, is also accompanying a rise in the average, already high, interest rates paid. Canadians Now Owe Over $79 Billion On Credit Cards […]
