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cost of living
Equifax report says consumer debt, credit delinquencies on the rise
Equifax Canada says young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year. Credit cards shown on Thursday, Oct. 6, 2022. THE CANADIAN PRESS/Andrew Vaughan
young money
Young Canadians more anxious about debt, more likely to miss a bill payment, Equifax says
Equifax Canada says young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year. Credit cards shown on Thursday, Oct. 6, 2022. THE CANADIAN PRESS/Andrew Vaughan
report on business
Changes in credit usage among businesses a worrying trend, Equifax Canada says
Signage on the Equifax Inc. offices in Atlanta is seen July 21, 2012. Equifax Canada says new data suggests a significant shift in credit usage among businesses in the first quarter of 2023. THE CANADIAN PRESS/AP-Mike Stewart
economy
Credit card balances increase in first quarter as mortgage market slows, Equifax Canada says
Credit cards are displayed in Montreal on December 12, 2012. Canadians may see a jump in businesses adding credit card surcharges as restrictions on the practice lift. THE CANADIAN PRESS/Ryan Remiorz
economy
Consumer debt in Canada tops $2.36-trillion in third quarter, up 7.3% from last year
Close-up of a unrecognisable person using their smart phone to pay by contactless.
report on business
Business openings drop by 50 per cent as possible recession looms
A sign announces a store will open soon in Ottawa Thursday April 30, 2020 in Ottawa. Equifax says new business openings in the second quarter of 2022 were almost 50 per cent down compared to a year ago.THE CANADIAN PRESS/Adrian Wyld
report on business
Average non-mortgage debt tops $21,000, up 2.4 per cent from last year: Equifax Canada
Credit cards are displayed in Montreal, Wednesday, December 12, 2012. Equifax Canada says total consumer debt rose to $2.32 trillion in the second quarter, up 8.2 per cent compared with the same quarter last year. THE CANADIAN PRESS/Ryan Remiorz
cost of living
Canadian tenants will soon be able to pay a small fee to include rent payments in credit history
A for rent sign outside a home in Toronto on Tuesday July 12, 2022. A report by real estate market research firm Urbanation Inc. says rents in the Greater Toronto Area are rising fast, echoing the latest numbers from online rental platforms about other major Canadian cities.THE CANADIAN PRESS/Cole Burston
international business
Canadians took out fewer new mortgages in Q4 while debt continued to increase
Houses are seen on Squamish Nation land in North Vancouver, on Tuesday, February 22, 2022. Minister of Housing and Diversity and Inclusion Ahmed Hussen announced funding for two Squamish Nation housing projects on Tuesday. THE CANADIAN PRESS/Darryl Dyck
report on business
Desjardins to pay up to nearly $201-million to settle class-action lawsuit linked to 2019 data breach
A Caisse populaire Desjardins sign is seen in Montreal on Tuesday, June 18, 2019. The federal privacy watchdog says a series of technological and administrative gaps caused a high-profile data breach at Desjardins — the largest in the Canadian financial services sector. THE CANADIAN PRESS/Paul Chiasson
opinion
Consumer spending hit full speed as Omicron variant arrived. Might a touch of restraint be called for?
Rob Carrick
young money
Younger Canadians are checking credit scores more often but many are confused about how credit works
Julie Kuzmic, Equifax Canadas senior compliance officer of consumer advocacy, is shown in this undated handout image. Younger Canadians are checking their credit reports more often than their older counterparts, but still have many misconceptions as to how they work, according to a recent survey. THE CANADIAN PRESS/HO-Equifax Canada Co. *MANDATORY CREDIT*
opinion
Parents gave their adult kids more than $10-billion to buy houses in the past year
Rob Carrick
rob magazine
A score to settle: Edmonton software ace looks to upend one of the world’s most entrenched industries
CREDIT RATINGS
report on business
Rise in consumer debt in first quarter of 2021 largely driven by new mortgages: Equifax
A sold sign is seen outside a house at the tourist destination of Prince Edward County, Ontario, Canada May 8, 2021. Picture taken May 8, 2021. REUTERS/Lars Hagberg
report on business
Housing growth, auto loans drive up demand for credit in third quarter, Equifax says
A condo building is seen under construction surrounded by houses in Vancouver, B.C., on Friday March 30, 2018. Credit rating agency Equifax Canada says total consumer debt increased 2.8 per cent to $1.99 trillion in the second quarter despite the economic impact of COVID-19 amid a strong recovery in the housing market. THE CANADIAN PRESS/Darryl Dyck
household finances
Did you defer a mortgage payment because of COVID-19? Here’s why you should check your credit score
Credit score charts are seen on the internet on a computer in North Vancouver, B.C., Wednesday, June, 15, 2016. Hundreds of thousands of Canadians have been negotiating with lenders over the past few months, hoping to hold off paying debt amid the COVID-19 pandemic. Now, those payments are beginning to filter through the credit reporting system. THE CANADIAN PRESS/Jonathan Hayward
opinion
Ottawa is tightening the rules for first-time home buyers – for their own good
Rob Carrick
mobility
Can a traffic ticket from another country hurt my credit rating or driving record?
Can a traffic ticket from another country hurt my credit rating or driving record?
business briefing
Canadians are defaulting on non-mortgage debt at highest third-quarter pace since 2012
Michael Babad