1.4 million consumers lost credit payment in Q1, says Equifax reports star-news.press/wp

Consumers deepen among consumers in the face of economic uncertainty, compared to the missing payment, a new Equifax report shows.

Rebecca Oakes, Vice President of the Advanced Analytics of Canada Equifax, said a large part of the trend to grow unemployment and grow trading tensions.

“In order for someone to continue payments, you need to have income, you need to have good jobs,” Oakes said. “When there is a financial uncertainty, this creates little effect.”

The report found 22 consumers or 1.4 million people, at least lost a credit payment in the first quarter, in the first quarter, expenditure expenditure per $ 107.

“We really think this is more discretion when you go back to that expense. And which will affect the business and ultimately it will hit the job level,” he said.

“Everyone rarely connects when you start seeing this economic uncertainty.”

Credit card delinquency rates among young people

Report-free consumer crime rates rose by 8.9% year-on-year compared to 6.5% year-on-year consumer crime.

The average mortgage debt per consumer has risen to $ 21,859 in the first quarter, especially those who were driven by a strong car loan market, looking for buyers to block car purchases.

The younger consumers seem to be playing hard, the report showed. Credit card delinquency rates accounted for 5.30 percent of this cohort, up 21.7 percent during the year.

“If you get credit commitments and get more difficult to get employment or maybe your income is not living, then it’s harder to” continue to make payments, “Oak said,” Oak said.

The total consumer debt in the first three months of 2025 increased by $ 2.55 million, four percent in four years, but more than $ 6 billion fell 2024. From the year, the report showed.

There have also been many mortgage upgrades to higher levels of debt. Many householders blocked at low interest rates at the beginning of the Covid-19 pandemic at the low interest rates are conducting mortgage renewal exams.

Ontario was the financial stress in the first quarter, he showed the report. The 90-day mortgage delinquency rate of the province rose to 0.24 per cent since last year.

“We are losing payments related to the Mortgage of Ontario,” OAK said.

The province also had the highest rate of non-mortgage in non-crime, 24 percent during the year, and then Alberta and Quebec.