It seems more Edmontonians are having trouble paying off their debt.
Delinquency rates in our city have risen by 39 per cent over the last year, and 32.2 per cent in Calgary, according to a new report from Equifax.
The increase isn’t specific to the major centres either, author Regina Malina said Alberta as a whole has seen a rise in delinquency rates. The good news though, debt rates didn’t rise significantly.
“Albertans have higher debt to start with, but they’re not ramping it up. I think that’s really great, given the circumstance,” Malina said.
While she didn’t reference the Fort McMurray wildfire specifically in the report, it has had an effect.
“We can see that the region has gone through a very stressful situation, and I think it does have an impact on the region as a whole.”
She expects things to improve in Fort McMurray as the rebuild and recovery continues over the next few years. (kb)