Posthaste: These loans are raising credit risk red flags in Canada [Financial Post (Toronto, Ontario, Canada)]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: Financial Post
Credit risk monitors that have been keeping a close eye on loan performance in Canada as higher interest rates puts pressure on borrowers, say lenders are starting to get nervous. Article content The jump in the unemployment rate and loss of jobs in March “is stoking unease about the short-run outlook for loan performance,” said Moody's Analytics. Canada lost over 2,000 jobs and the unemployment rate rose to 6.1 per cent last month, its highest level in two years — a surprise for economists, who had been expecting a jobs gain. Article content Up until recently a strong labour market and steady wage growth have bolstered credit performance. “If Canadian households were to lose this crucial support, as the March jobs report hinted, default rates would quickly accelerate higher,” said Moody's Brendan LaCerda. The good news is that residential loans, such as mortgages and home equity lines of credit or HELOCs , remain firmly below their pre-pandemic levels. Nor are credit c
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EFX
Earnings
- 4/17/24 - Beat
EFX
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/26/24 - Form 144
- EFX's page on the SEC website