Canada's unstoppable $2.5 trillion debt juggernaut is fuelling financial stress [Wealth Professional (Canada)]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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investor.equifax.com
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Source: Wealth Professional
Its latest Markey Pulse survey puts total consumer debt at near $2.5 trillion in the first quarter of 2024, up 3.5% year-over-year. Around three quarters of this is mortgage debt , generally considered less risky than many other consumer credit products, but for those whose finances are strained keeping up payments on their home loan may be unachievable. Overall mortgage delinquencies remain low by historic standards with rates in most parts of Canada lower than pre-pandemic, but Ontario and BC have seen the most significant increases. For Ontario, the total mortgage balance for loans that have gone 90 days or more without payment reached a record $1 billion – more than double the pre-pandemic level. Toronto and Vancouver have both exceeded the delinquency rates of Q1, 2020. And Ontario and BC are not the only provinces where mortgage delinquencies are ticking higher, while other credit products are also seeing higher rates of missed payments. Over 1.26 million consumers missed
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EFX
News
- Equifax Introduces Secondary Education Diploma Verification Solution for Employers [Yahoo! Finance]Yahoo! Finance
- Equifax Introduces Secondary Education Diploma Verification Solution for EmployersPR Newswire
- Canadian businesses missing payments as debt burden grows [Yahoo! Finance Canada]Yahoo! Finance Canada
- Canadian business installment loans up 74% in a year, delinquencies rising [Wealth Professional (Canada)]Wealth Professional
- Equifax Canada reports rise in delinquency, debts amidst rate cut optimism [BNN Bloomberg (Canada)]BNN Bloomberg
EFX
Earnings
- 4/17/24 - Beat
EFX
Sec Filings
- 6/4/24 - Form 4
- 6/4/24 - Form 4
- 6/4/24 - Form 4
- EFX's page on the SEC website