TransUnion's latest Q3 2025 Credit Industry Insights Report reveals significant shifts in Canada's credit market. Total consumer debt reached $2.6 trillion, driven primarily by increased mortgage balances amid falling interest rates. Mortgage originations jumped 18% year-over-year, with many Canadians opting for shorter-term fixed mortgages to take advantage of lower rates and refinancing opportunities. However, the report highlights growing geographic disparities in credit performance, as late-stage delinquencies rose sharply in Ontario, Alberta, and Quebec, despite early-stage delinquencies declining overall. Non-mortgage debt also grew 4.3% to $673 billion, and the average non-mortgage balance per consumer rose to $27,100. Meanwhile, credit card originations declined, signaling a slowdown in that segment. TransUnion notes that while lenders face a more competitive landscape, the overall health of the Canadian credit market is weakening, as indicated by a drop in the Consumer Credit Industry Indicator compared to the previous year.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TransUnion published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9591593-en) on November 25, 2025, and is solely responsible for the information contained therein.
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