Equifax says delinquency rates climb higher in Alberta and Saskatchewan
OTTAWA — Delinquency rates in Alberta and Saskatchewan climbed higher in the second quarter due to the fallout from the drop in the price of oil.
Equifax Canada said Thursday the delinquency rate for Alberta stood at 1.4 per cent, up 40.3 per cent compared with a year ago. The delinquency rate in Saskatchewan climbed to 1.2 per cent, a gain of 22.7 per cent.
Newfoundland, which has also been hit by the downturn in oil, was up 19.4 per cent at 1.3 per cent.
“They are still relatively low and that has to be kept in perspective, but we definitely are seeing the impact of the prolonged situation in those regions,” said Regina Malina, senior director of decision insights at Equifax Canada.