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Stock impact report

Rising credit delinquency rates reflects ongoing struggles for Canadians [Wealth Professional (Canada)]

Equifax, Inc. (EFX) 
Last equifax, inc. earnings: 4/20 05:24 pm Check Earnings Report
US:NYSE Investor Relations: investor.equifax.com
Finding hundreds of extra dollars for a mortgage payment well above what you have come to expect, while also seeing the minimum payment for your credit card soaring, is a step too far for many Canadians. With many already concerned about how soaring housing costs could impact their retirement plans , new data from Equifax Canada reflects mortgage renewals at elevated rates and larger credit card balances led to a rise in the delinquency rates for these – and other – credit products in the last three months of 2023. The stats reveal a 52% increase in the 90+ days overdue delinquency rate for mortgages and a 29% rise for non-mortgage credit. The overall numbers remain low (0.14% for mortgage and 1.3% for non-mortgage) but with more mortgage renewals ahead and household budgets squeezed, it's likely they will rise. Homeowners with mortgages have seen their post-renewal payments rise by an average $457, but in Ontario and BC the average is $680. These provinces have also seen a lar Show less Read more
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