Equifax Canada Reports Canadian Consumer Debt Increasing but at a Slower Pace - Seite 2

"The overall trend we've seen with debt levels going up and delinquency rates coming down is still the case, but some of the sub-segments within the Canadian population are changing their behaviour," explained Regina Malina, Senior Director of Decision Insights at Equifax Canada. "We're starting to see the impact of low oil prices in the West as these prices are forcing a new reality on Alberta and Saskatchewan in particular. In these two provinces the debt levels are stable, but the delinquency rate has started to increase."

On a demographic basis, the 90+ day delinquency rate for Canadians aged 65+ rose for the first time since 2010. The rate increased by 2.4% this quarter versus a decrease of 5.1% in the previous quarter.

"Delinquency rates for all other age groups are decreasing by different degrees, but for the first time in several years, we've seen this change in behaviour from seniors," noted Malina. "In the light of the fact that debt carried by seniors has been increasing faster than for other age groups for a while, we will monitor this trend closely in the coming quarters."

Demand for new credit is strongest in the auto sector, growing everywhere except Quebec. Increase in appetite for credit slowed down in the Western region and decreased in the Eastern provinces.

National and Regional Demand for Credit
	Year-over-Year % Changes
	2015 vs 2014
	Q1	Q2
Ontario	2.6%	3.1%
Quebec	0.7%	0.5%
Western Region	5.2%	3.2%
Eastern Region	-1.0%	4.3%
Canada	2.7%	2.5%

Data for this report, including scores, are sourced from Equifax Canada, the repository of the majority of credit transactions that occur in Canada. There are over 25 million unique Equifax consumer credit files. Transaction volumes for data are estimated at 105 million per month. Information provided in this report was adjusted to ensure that quarterly data reflects the results as of the last month of each quarter.