A number of red lights are flashing across the dashboard of Canada’s consumer credit market, according to an analysis released Tuesday by Equifax.
On everything from credit cards to mortgages, a growing share of borrowers is increasingly struggling to make their monthly debt payments, the numbers suggest. The report, which records data from the first three months of 2025, offers a gauge of the financial health of Canadian borrowers amid sputtering economic growth, rising unemployment and stubborn inflation.
Signs of strain are particularly acute among young people and those living in Ontario, with missed payments rising even as many consumers are cutting back on spending, the data suggest.
