More than 1.4 million Canadians missed a credit payment in the first three months of the year, marking the highest rate of non-mortgage delinquencies in over 15 years.
According to a report by Equifax Canada, rising financial pressure was especially felt among younger Canadians, who saw a 15.1% spike in missed payments compared to the same period last year.
Across the country, the average non-mortgage debt held by individuals rose to almost $22-thousand, driven in part by auto loans as buyers rushed to beat possible hikes caused by U.S. tariffs.