Mortgages Account for Nearly Three Quarters of Canadian Debt as Consumers Hold Out for Reduced Interest Rate Relief
TRUTransUnion(TRU) GlobeNewswire News Room·2024-08-27 18:00

Key findings from the TransUnion® report: Canadian household debt hits a record high $2.41 trillion, with mortgage debt making up 74% of the total outstanding balances. More Canadians face payment stress as consumption demand grows.Percentage of consumers missing payments for 90 or more days continued to rise, up 22 bps year-over-year to 1.74% as higher living costs combined with higher interest rates put more pressure on vulnerable consumer segments. TORONTO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Canada’s tota ...