transunion Archives - Mortgage Rates & Mortgage Broker News in Canada

Gen Z credit use up 30%, as Canada’s consumer debt hits $2.5 trillion

June 8, 2025 No Comments

Canada’s consumer debt climbed to a record $2.5 trillion in the first quarter, with Gen Z, newcomers and subprime borrowers driving the surge, according to TransUnion’s latest Credit Industry Insights Report.

Véronique Lalonde, partner and licensed insolvency trustee at Montreal-based Raymond Chabot

If spiralling debt has you on the brink, a consumer proposal may be the right move

May 21, 2025 No Comments

Getting trapped in a perpetual cycle of debt with seemingly no way out is one of the most stressful situations life can throw at you. For anyone looking for a way forward, experts say a consumer proposal can break the chain without the need for a bankruptcy filing.

New year, better mortgage rates: Credit tips to get you there

January 3, 2025 No Comments

As we step into a new year, it’s a great time to reassess your financial habits and ensure your credit profile is in top shape.

The hidden cost of rising debt: why checking your credit report matters more than ever

July 14, 2024 No Comments

With interest rates and borrowing costs at elevated levels, it’s more important than ever to ensure your credit report is in good standing.

Options to boost credit scores are growing, but principles remain the same

June 4, 2024 No Comments

Both a little opaque on how they’re calculated and sometimes painfully clear in what they say, credit scores are an unavoidable part of any borrowers’ life.

More Canadians only making minimum payment on credit cards: TransUnion

May 28, 2024 No Comments

An increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household budgets.

Why you shouldn’t fear a credit score drop when applying for a mortgage

May 14, 2024 No Comments

In the complex world of home financing, a common concern among our clients involves the impact of credit inquiries on their credit scores.

Despite the BoC’s growth outlook, Canadians are bracing for recession: TransUnion

July 12, 2023 No Comments

While the Bank of Canada’s latest growth forecasts remain positive for the year ahead, Canadians aren’t taking any chances.

RBC sees mortgage delinquencies rising nearly 30% in the coming year

May 9, 2023 No Comments

After spending most of the past year at or near record lows, Canada’s mortgage delinquency rate is expected to return to pre-pandemic levels, potentially rising by nearly a third.

Mortgage volumes fell in Q2 as credit card debt rose: Equifax

September 11, 2022 1 Comment

Canadian borrowers applied the brakes to mortgage borrowing in the second quarter while ramping up non-mortgage debt.

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