TORONTO — Equifax Canada says consumer delinquencies climbed higher in the fourth quarter of 2018 and the credit monitoring company warns that rising delinquency rates are likely to become the norm this year.
It says the 90-day mortgage delinquency rate rose by 1.5 per cent from the fourth quarter of 2017 to 0.18 per cent at the end of last year.Equifax says total Canadian consumer debt including mortgages increased to nearly $1.91 trillion in the fourth quarter, up from $1.82 trillion in the fourth quarter of 2017.
The average non-mortgage debt for consumers was $23,520, up three per cent compared with a year earlier. “Bankruptcies are up 15 per cent in the last half of 2018 and the small increase in delinquency rates mask some underlying weakness,” Equifax Canada vice-president Bill Johnston said in a statement.Equifax’s report comes the day before the Bank of Canada announces it interest rate decision.
Raising the interest rate props up the falling dollar for Trudeau, but since our economy is headed for recession raising the interest rate would be just as irresponsible as it was to raise it last time...so they will likely do it
They were wrong before in raising them, Poloz is under Trudeau’s thumb, it is really idiotic, Poloz is not a creditable Enough person to do his job, I would put him in the ranks of Weinerek in his position, not creditable, bias people in the wrong positions is what destroys us
I’ll beam my Apple Pay into you. And you’ll quit that lame ass bitcoin
I’ll destroy you over cents because to the haters that take hundreds you can’t handle or balance dollars or cents
How about how vulnerable retirees are? We saved for a promise of 5-7% interest to supplement OAS & CPP but for the last 10 years don’t get 1%. Illegals and refugees are treated better. We will fix that October 21.
Most living on edge