B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says [BNN Bloomberg (Canada)]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: BNN Bloomberg
The fourth quarter saw a continuation of what's been happening for a while now as the impacts of higher interest rates and inflation continue to weigh on consumers, said Rebecca Oakes, vice-president of advanced analytics at Equifax Canada, in an interview. These effects are becoming more visible as people renew their mortgages, she said, and in areas where housing prices are more expensive in Canada. “We're seeing that strain start to increase, and really starting to see missed payments coming out more and more on the credit side for individuals,” said Oakes. Mortgage delinquency rates soared in those provinces, surpassing pre-pandemic levels, the agency said. In Ontario, the mortgage delinquency rate was up 135.2 per cent compared with a year earlier, while B.C.'s rate rose by 62.2 per cent. Financially stressed homeowners in those provinces are also increasingly missing credit payments, the agency said, a trend primarily driven by homeowners who are 36 and younger. “Wh
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EFX
Earnings
- 4/17/24 - Beat
EFX
Sec Filings
- 4/26/24 - Form 144
- 4/26/24 - Form 144
- 4/22/24 - Form 10-Q
- EFX's page on the SEC website