29 April 2013
Canadian paradox – consumer debt rises, while defaults go down
According to the recent study, the Canadian consumer debt level went upslightly in the first quarter of 2013, but the default rate fell.
The report by Equifax Canada shows that the rate of delinquencies for three months or more was 13.4% lower from the same period in 2012. It was only 1.2% which is the record low.
“The delinquency rates keep on improving, especially in Edmonton, Calgary, Vancouver and Ottawa,” – said CristiandeRitis from Moody’s Analytics…