Consumer delinquencies climbed higher in the fourth quarter, Equifax Canada says

Equifax Canada says consumer delinquencies climbed higher in the fourth quarter of 2018 and the credit monitoring company warns that rising delinquency rates are likely to become the norm this year.

It says the 90-day mortgage delinquency rate rose by 1.5 per cent from the fourth quarter of 2017 to 0.18 per cent at the end of last year.Story continues below advertisement Equifax says total Canadian consumer debt including mortgages increased to nearly $1.91-trillion in the fourth quarter, up from $1.82-trillion in the fourth quarter of 2017.

The average nonmortgage debt for consumers was $23,520, up three per cent compared with a year earlier. “Bankruptcies are up 15 per cent in the last half of 2018 and the small increase in delinquency rates mask some underlying weakness,” Equifax Canada vice-president Bill Johnston said in a statement.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Transcontinental reports lower first-quarter profit, higher revenues after Coveris packaging acquisitionThe Montreal-based printing company says it had $28.1-million or 32 cents per share of net income for the three months ended Jan. 27
Source: globeandmail - 🏆 5. / 92 Read more »

TSX Composite earnings scorecard: How fourth-quarter results have faredOf the 138 companies in the index that have reported earnings to date for Q4 2018, 52.9 per cent reported above analyst expectations
Source: globeandmail - 🏆 5. / 92 Read more »

Cascades closing two tissue paper machines in Ontario, reports fourth-quarter lossThe company says the leases for the operations in Whitby and Scarborough expire on Aug. 27 and will not be renewed
Source: globeandmail - 🏆 5. / 92 Read more »

Encana swings to fourth-quarter profitOil and gas producer post earnings of $1.03-billion compared to a loss of $229-million a year earlier
Source: globeandmail - 🏆 5. / 92 Read more »