Calgarians carry highest average non-mortgage debt in Canada
Posted Nov 30, 2017 11:20 am.
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Calgarians still hold the highest average non-mortgage debt in Canada at $28,646.
That’s part of the latest look at Canada’s consumer credit performance report from TransUnion.
Director of research and industry analysis Matt Fabian said a lot of the debt issues in Calgary are still being driven by the economy.
“The lower oil prices, the wildfires, it’s been a little bit of a tough go for Albertans,” he said.
Non-mortgage consumer debt in Calgary is up 2.85 per cent over last year but that’s still lower than the national jump of 3.93 per cent, which is good news.
“Most of the signs point to the fact that Alberta seems to be pulling out of that and the economy is starting to come around, growth rates, GDP, and productivity seem to be pointing in the right direction,” Fabian explained.
Alberta’s delinquency rate was fairly consistent at 6.51 per cent last quarter.
He explained these indicators tend to be a bit behind, and he’s optimistic we’ll see a big change in the next couple quarters.
