Delinquency rates for credit cards and car loans are on the rise — a sign mortgage defaults could be next, report warns

Delinquency rates for credit cards and car loans are on the rise — a sign mortgage defaults could be next, report warns

Mortgage debt rose by six per cent to a record $2.08 trillion in 2022, at a time when Canadians are struggling to keep up with other loan payments.

Delinquency rates for credit cards and car loans are on the rise — a sign mortgage defaults could be next, report warns

Delinquency rates for credit cards and car loans rose last year, a warning sign that Canadians could start defaulting on their mortgage payments, a new report warns.The Canada Mortgage and Housing Corporation report, released Thursday, found that mortgage debt rose by six per cent to a record $2.08 trillion in 2022.Although that was a slower rise than the previous year, it’s still another new high at a time when Canadians are showing increasing …