Stable versus Struggling: Canada's Financial Divide Widens
Portfolio Pulse from
Equifax Canada's Q4 2024 Market Pulse Consumer Credit Trends Report highlights a growing financial divide in Canada, with rising mortgage delinquencies in Ontario. Delinquencies are over 50% higher than pre-pandemic levels, indicating severe financial distress for some borrowers.
February 25, 2025 | 10:45 am
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Equifax's report indicates a significant rise in mortgage delinquencies in Ontario, suggesting increased demand for credit monitoring services. This could positively impact Equifax's business as more consumers and financial institutions seek credit insights.
The report from Equifax highlights a critical issue in the Canadian credit market, which could lead to increased demand for Equifax's services. As mortgage delinquencies rise, both consumers and financial institutions may rely more on credit monitoring and reporting services, potentially benefiting Equifax's business.
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