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What the data isn’t showing about credit stress

– moneysense.ca

The broad picture of household finances indicates that Canadians are generally managing through the upheavals of tariffs, a soft job market, inflation, and other headwinds, but looking deeper shows pockets of severe credit challenges.

The recent difficulties at Goeasy Ltd. give a hint of those troubles, after the subprime lender reported hundreds of millions in losses last month after it wrote down $178 million in loans and saw its shares plummet. The troubles happened despite credit rating agency TransUnion reporting overall delinquencies were unchanged in the last quarter of 2025 from a year earlier.

It’s part of a broader trend of many people, especially homeowners, managing well, as financial strain worsens for those who were already struggling. “Those high-level numbers can mask a little bit what’s actually happening,” said Rebecca Oakes, vice-president of advanced analytics at Equifax Canada. “We talk about that K-shaped recovery, it’s kind of like that divergence…

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