TORONTO — A new report from Equifax Canada says insolvency volumes have risen to the highest level since 2009 amid escalating financial strain on homeowners.
The firm’s first-quarter market pulse report on consumer credit trends says systemic risks persist even while Canadians are staying financially disciplined to cope with economic challenges.
Insolvency volumes for the quarter were up 18.8 per cent year-over-year, indicating that many consumers “may have reached a financial inflection point,” it said.
