Behind Canada’s debt slowdown, one province still struggles
The national 90-plus-day non-mortgage balance delinquency rate edged down to 1.76% from 1.79% in Q1, but remained above the 1.70% recorded a year earlier.
“Between March and June, we typically see non-mortgage debt levels rising and missed payments falling,” said Rebecca Oakes, Vice President of Advanced Analytics at Equifax Canada.
“And while rising delinquency levels have started to slow, pockets of growing stress are still evident in some areas.”
Servus Credit Union economists Charles St-Arnaud and Oriane Kacoutie highlighted rising consumer proposals and warned that weakening employment could put further pressure on household finances.https://t.co/ACo5roObVH
— Canadian Mortgage Professional Magazine (@CMPmagazine) August 12, 2026
Ontario homeowners buck the national trend
The gap between Ontario and the rest of Canada is widening. Nationally, the 90-plus-day non-mortgage delinquency rate for mortgage holders reached 0.77% in Q2, a 12.5% rise year-on-year.
In Ontario alone, that figure climbed to 0.86%, up 2.2% from Q1 and 27% higher than in Q2 2025.
