Canadian credit market shows signs of recovery as new mortgages rise 51% year-over-year

Key findings from transunion report: inflation continues to be a key driver of the growth in consumer balances over the last three years, with average non-mortgage balances rising 10% since 2022 home affordability remains a challenge as average new mortgage sizes climbed 6.9% year-over-year, driven by renewed housing demand regional disparities in cost of living and wage growth contributed to varying delinquency trends across canadian provinces; alberta saw the highest level of serious delinquency (90+ days past due), rising 11 basis points to 2.29% toronto, aug. 13, 2025 (globe newswire) -- new data from transunion shows that total canadian consumer credit balances reached $2.52 trillion in q2 2025, up 4.4% year-over-year (yoy) according to transunion's q2 2025 credit industry insights report (ciir). that marks a 15% increase since q1 2022, which aligns with the onset of rising inflation rates in canada.
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