Mortgage pressures push consumer debt to $2.15T [Wealth Professional (Canada)]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: Wealth Professional
Concerning trends in mortgage growth, auto loans, and insolvencies could be made even worse by inflation, says EquifaxByLeo AlmazoraSep 01, 2021ShareDespite government many Canadians becoming more able to pay their debts, Canada’s consumer debt burden has grown to worrisome levels astrends in the housing spaceAccording to new figures from Equifax Canada, overall consumer debt ballooned to $2.15 trillion in Q2 2021, up 3% from the previous quarter and 7.5% from Q2 2020.The primary force behind that, according to the firm, has been growth in mortgages. New mortgage volumes swelled to over 410k in Q2, the highest-ever volume documented in a single quarter. The figure also reflects a 60.2% increase over the same period in 2020. Amid soaring home prices, the average loan amount for new mortgages has exceeded $355k, a 22.2% increase from Q2 2020.Against a backdrop of high mortgage growth and low interest rates, home equity lines of credit (HELOCs) have rebounded. New HELOC volume rose 56.7%
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EFX
News
- Equifax Workforce Solutions Launches Forms HQ, Expanding the PeopleHQ™ Portal [Yahoo! Finance]Yahoo! Finance
- Equifax Workforce Solutions Launches Forms HQ, Expanding the PeopleHQ™ PortalPR Newswire
- Equifax Canada testing use of rental payment data for credit scores [MoneySense]MoneySense
- Equifax testing use of rent data for credit scores [Investment Executive - News]Investment Executive - News
- Equifax Canada testing use of rental payment data for credit scores [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
EFX
Earnings
- 4/17/24 - Beat
EFX
Sec Filings
- 4/22/24 - Form 10-Q
- 4/17/24 - Form 8-K
- 4/2/24 - Form 4
- EFX's page on the SEC website