{"id":450319,"date":"2021-03-04T05:03:29","date_gmt":"2021-03-04T10:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=450319"},"modified":"2021-03-04T05:03:29","modified_gmt":"2021-03-04T10:03:29","slug":"new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/","title":{"rendered":"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending"},"content":{"rendered":"

\nOverall Consumer Debt Climbs due to Increased Mortgage Activity
\n<\/h2>\n
\n

TORONTO, March 04, 2021 (GLOBE NEWSWIRE) — Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019, according to Equifax Canada\u2019s most recent report on consumer credit conditions.<\/p>\n

Despite the increase in total debt, the average consumer debt (excluding mortgages) dropped again this quarter to $23,043, which is a year-over-year decrease of 3.0 per cent and a decline of 0.8 per cent compared to the previous quarter. The drop in consumer debt is primarily due to credit card balance which has been gradually declining since March last year due to reduced spending and consumers paying down more of their balance on a monthly basis.<\/p>\n

\u201cThis reduction has been a positive consumer shift but that\u2019s not to say we are out of the woods in terms of recovery,\u201d said Rebecca Oakes, AVP of Advanced Analytics at Equifax Canada. \u201cDeferral programs are ending and pockets of financial stress are starting to emerge for some consumers. Credit card spend is also starting to rise again.\u201d<\/p>\n

\n Deferrals and delinquencies during the pandemic<\/strong>\n <\/p>\n

More than three million Canadians took advantage of credit payment deferrals since the start of the pandemic and four out of five of these have now completely exited the use of deferral programs. Payment deferrals have been instrumental in preventing consumers impacted by the pandemic from becoming delinquent on their debt obligations. Even as consumers come out of deferral programs, the 90+ day delinquency rate for non-mortgage products stayed level in Q4 at 0.98 per cent while the same rate for mortgages was 0.16 per cent. However, early-stage delinquency (where an individual has missed one or two months of payments) continued to rise during Q4. Mortgages saw a 31 per cent increase in the 30+ day delinquency rate, while the 30+ day delinquency rate on installment loans jumped by 76 per cent when compared to Q3 2020.<\/p>\n

\u201cThe numbers suggest recovery will remain very uneven,\u201d added Oakes. \u201cQuebec, for example, has shown early non-mortgage delinquency continue to fall despite consumers leaving deferral programs, whereas Alberta has the highest increase in consumers missing mortgage payments. The support mechanisms across Canada remain pivotal in the prevention of further increased delinquency levels.\u201d<\/p>\n

\n First-time homebuyers, low interest rates and lending<\/strong>
\n
High demand for housing and lower interest rates continued to fuel new mortgages with a 22.1 per cent year-over-year volume growth in Q4 2020. The average mortgage loan amount rose by 14.4 per cent when compared to Q4 2019, marking the biggest year-over-year jump since 2015. Higher loan amounts can also be attributed to first-time homebuyers who saw higher than average year over year volume growth of 26.9 per cent in Q4 2020.<\/p>\n

\u201cRising prices in real estate hot spots have led to first-time homebuyers taking on more mortgage debt than ever in order to get their foot on the property ladder,\u201d said Oakes. \u201cFor example, in B.C. we saw average new mortgages for first-time buyers exceed $470K during the last quarter yet they are not being deterred; volumes were up more than 35 per cent compared to the same period in 2019.\u201d<\/p>\n

New auto finance and installment loans trended down this quarter with an 8.4 per cent and a 21.5 per cent year over year drop respectively, meanwhile, new credit cards are slowly recovering with a 10 per cent increase versus the last quarter.<\/p>\n

Lenders are also showing some signs of caution as a result of this uncertain period. Consumers are still being offered additional credit, but on higher interest rate products like credit cards, limits on newly-opened cards have been lower for the last two quarters when compared to the same periods in 2019.<\/p>\n

\u201cDuring periods of economic uncertainty, consumers and lenders may take proactive action to reduce variability in credit commitments, switching or encouraging the use of lower interest rate products,\u201d said Oakes. \u201cWe are still in an uncertain period with some isolated pockets of financial stress emerging. We will continue to closely monitor this over the coming months.\u201d<\/p>\n

\n Debt (excluding mortgages) & Delinquency Rates<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\n Age\u00a0<\/strong>\n <\/td>\n\n Average Debt <\/strong>
\n
\n (Q4 2020)<\/strong>\n <\/td>\n		\n Average Debt Change <\/strong>
\n
\n Year-over-Year <\/strong>
\n
\n (Q4 2020 vs. Q4 2019)<\/strong>\n <\/td>\n		\n Delinquency Rate<\/strong>
\n
\n (Q4 2020)<\/strong>\n <\/td>\n		\n Delinquency Rate Change <\/strong>
\n
\n Year-over-Year <\/strong>
\n
\n (Q4 2020 vs. Q4 2019)<\/strong>\n <\/td>\n<\/tr>\n
18-25<\/td>\n$8,747<\/td>\n-1.13%<\/td>\n1.29%<\/td>\n-21.48%<\/td>\n<\/tr>\n
26-35<\/td>\n$17,868<\/td>\n-2.35%<\/td>\n1.37%<\/td>\n-20.04%<\/td>\n<\/tr>\n
36-45<\/td>\n$27,893<\/td>\n-3.36%<\/td>\n1.10%<\/td>\n-19.64%<\/td>\n<\/tr>\n
46-55<\/td>\n$35,252<\/td>\n-2.73%<\/td>\n0.86%<\/td>\n-16.27%<\/td>\n<\/tr>\n
56-65<\/td>\n$29,369<\/td>\n-3.13%<\/td>\n0.77%<\/td>\n-14.77%<\/td>\n<\/tr>\n
65+<\/td>\n$15,871<\/td>\n-3.76%<\/td>\n0.91%<\/td>\n-13.90%<\/td>\n<\/tr>\n
Canada<\/td>\n$23,043<\/td>\n-3.02%<\/td>\n0.98%<\/td>\n-17.52%<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Major City Analysis<\/strong> \u2013 Debt (excluding mortgages) & Delinquency Rates<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n City<\/strong>\n <\/td>\n\n Average Debt <\/strong>
\n
\n (Q4 2020)<\/strong>\n <\/td>\n		\n Average Debt Change <\/strong>
\n
\n Year-over-Year <\/strong>
\n
\n (Q4 2020 vs. Q4 2019)<\/strong>\n <\/td>\n		\n Delinquency Rate<\/strong>
\n
\n (Q4 2020)<\/strong>\n <\/td>\n		\n Delinquency Rate Change <\/strong>
\n
\n Year-over-Year <\/strong>
\n
\n (Q4 2020 vs. Q4 2019)<\/strong>\n <\/td>\n<\/tr>\n
Calgary<\/td>\n$28,829<\/td>\n-3.22%<\/td>\n1.19%<\/td>\n-13.60%<\/td>\n<\/tr>\n
Edmonton<\/td>\n$27,319<\/td>\n-3.64%<\/td>\n1.43%<\/td>\n-10.57%<\/td>\n<\/tr>\n
Halifax<\/td>\n$22,584<\/td>\n-4.16%<\/td>\n1.17%<\/td>\n-23.12%<\/td>\n<\/tr>\n
Montreal<\/td>\n$17,103<\/td>\n-4.76%<\/td>\n0.94%<\/td>\n-27.25%<\/td>\n<\/tr>\n
Ottawa<\/td>\n$21,891<\/td>\n-3.82%<\/td>\n0.82%<\/td>\n-17.23%<\/td>\n<\/tr>\n
Toronto<\/td>\n$23,200<\/td>\n-1.24%<\/td>\n1.09%<\/td>\n-13.75%<\/td>\n<\/tr>\n
Vancouver<\/td>\n$26,172<\/td>\n-1.59%<\/td>\n0.69%<\/td>\n-15.02%<\/td>\n<\/tr>\n
St. John’s<\/td>\n$25,155<\/td>\n-1.54%<\/td>\n1.35%<\/td>\n-22.27%<\/td>\n<\/tr>\n
Fort McMurray<\/td>\n$39,717<\/td>\n0.11%<\/td>\n1.69%<\/td>\n-13.02%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Province Analysis <\/strong>– Debt (excluding mortgages) & Delinquency Rates<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \u00a0Province<\/strong>\n <\/td>\n\n Average Debt <\/strong>
\n
\n (Q4 2020)<\/strong>\n <\/td>\n		\n Average Debt Change <\/strong>
\n
\n Year-over-Year <\/strong>
\n
\n (Q4 2020 vs. Q4 2019)<\/strong>\n <\/td>\n		\n Delinquency Rate<\/strong>
\n
\n (Q4 2020)<\/strong>\n <\/td>\n		\n Delinquency Rate Change <\/strong>
\n
\n Year-over-Year <\/strong>
\n
\n (Q4 2020 vs. Q4 2019)<\/strong>\n <\/td>\n<\/tr>\n
Ontario<\/td>\n$23,883<\/td>\n-2.14%<\/td>\n0.91%<\/td>\n-15.31%<\/td>\n<\/tr>\n
Quebec<\/td>\n$18,888<\/td>\n-4.76%<\/td>\n0.75%<\/td>\n-28.82%<\/td>\n<\/tr>\n
Nova Scotia<\/td>\n$21,969<\/td>\n-2.98%<\/td>\n1.37%<\/td>\n-23.59%<\/td>\n<\/tr>\n
New Brunswick<\/td>\n$23,217<\/td>\n-2.74%<\/td>\n1.51%<\/td>\n-18.52%<\/td>\n<\/tr>\n
PEI<\/td>\n$23,070<\/td>\n-0.70%<\/td>\n0.96%<\/td>\n-21.91%<\/td>\n<\/tr>\n
Newfoundland<\/td>\n$23,836<\/td>\n-0.99%<\/td>\n1.40%<\/td>\n-23.71%<\/td>\n<\/tr>\n
\n Eastern Region<\/em>\n <\/td>\n\n $<\/em>
\n 22,832<\/em>\n <\/td>\n		\n -2.32<\/em>
\n %<\/em>\n <\/td>\n		\n 1.<\/em>
\n 40<\/em>
\n %<\/em>\n <\/td>\n		\n -2<\/em>
\n 1.89<\/em>
\n %<\/em>\n <\/td>\n<\/tr>\n
Alberta<\/td>\n$28,099<\/td>\n-3.36%<\/td>\n1.36%<\/td>\n-10.96%<\/td>\n<\/tr>\n
Manitoba<\/td>\n$18,030<\/td>\n-4.68%<\/td>\n1.21%<\/td>\n-17.93%<\/td>\n<\/tr>\n
Saskatchewan<\/td>\n$23,927<\/td>\n-3.48%<\/td>\n1.32%<\/td>\n-16.54%<\/td>\n<\/tr>\n
British Columbia<\/td>\n$24,317<\/td>\n-2.15%<\/td>\n0.83%<\/td>\n-14.66%<\/td>\n<\/tr>\n
\n Western Region<\/em>\n <\/td>\n\n $<\/em>
\n 2<\/em>
\n 4,988<\/em>\n <\/td>\n		\n -2.<\/em>
\n 95<\/em>
\n %<\/em>\n <\/td>\n		\n 1.1<\/em>
\n 2<\/em>
\n %<\/em>\n <\/td>\n		\n –<\/em>
\n 13.60<\/em>
\n %<\/em>\n <\/td>\n<\/tr>\n
\n Canada<\/strong>\n <\/td>\n\n $<\/strong>
\n 23,<\/strong>
\n 043<\/strong>\n <\/td>\n		\n –<\/strong>
\n 3.02<\/strong>
\n %<\/strong>\n <\/td>\n		\n 0.98<\/strong>
\n %<\/strong>\n <\/td>\n		\n -1<\/strong>
\n 7.52<\/strong>
\n %<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

* Based on Equifax data for Q4 2020<\/p>\n

About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit\u00a0Equifax.ca<\/u><\/a> and follow the company\u2019s news on LinkedIn<\/u><\/a>.<\/p>\n\n\n\n\n\n\n
Contact:<\/td>\n\u00a0<\/td>\n<\/tr>\n
Andrew Findlater<\/td>\nTom Carroll<\/td>\n<\/tr>\n
SELECT Public Relations<\/td>\nEquifax Canada Media Relations\u00a0\u00a0<\/td>\n<\/tr>\n
\n afindlater@selectpr.ca<\/a>\u00a0<\/td>\n\n MediaRelationsCanada@equifax.com<\/a>\u00a0<\/td>\n<\/tr>\n
(647) 444-1197<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Overall Consumer Debt Climbs due to Increased Mortgage Activity TORONTO, March 04, 2021 (GLOBE NEWSWIRE) — Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019, according to Equifax Canada\u2019s most recent report on consumer credit conditions. Despite the increase in total debt, the average consumer debt (excluding mortgages) dropped again this quarter to $23,043, which is a year-over-year decrease of 3.0 per cent and a decline of 0.8 per cent compared to the previous quarter. The drop in consumer debt is primarily due to credit card balance which has been gradually declining … <\/p>\n

Continue reading “\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-450319","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\n\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Overall Consumer Debt Climbs due to Increased Mortgage Activity TORONTO, March 04, 2021 (GLOBE NEWSWIRE) — Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019, according to Equifax Canada\u2019s most recent report on consumer credit conditions. Despite the increase in total debt, the average consumer debt (excluding mortgages) dropped again this quarter to $23,043, which is a year-over-year decrease of 3.0 per cent and a decline of 0.8 per cent compared to the previous quarter. The drop in consumer debt is primarily due to credit card balance which has been gradually declining … Continue reading "\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T10:03:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending\",\"datePublished\":\"2021-03-04T10:03:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/\"},\"wordCount\":983,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/\",\"name\":\"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=\",\"datePublished\":\"2021-03-04T10:03:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=\",\"contentUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/","og_locale":"en_US","og_type":"article","og_title":"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending - Market Newsdesk","og_description":"Overall Consumer Debt Climbs due to Increased Mortgage Activity TORONTO, March 04, 2021 (GLOBE NEWSWIRE) — Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019, according to Equifax Canada\u2019s most recent report on consumer credit conditions. Despite the increase in total debt, the average consumer debt (excluding mortgages) dropped again this quarter to $23,043, which is a year-over-year decrease of 3.0 per cent and a decline of 0.8 per cent compared to the previous quarter. The drop in consumer debt is primarily due to credit card balance which has been gradually declining … Continue reading \"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-04T10:03:29+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending","datePublished":"2021-03-04T10:03:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/"},"wordCount":983,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/","name":"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=","datePublished":"2021-03-04T10:03:29+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#primaryimage","url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA=","contentUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDExMSM0MDQ2NzE3IzIwOTQ5NzA="},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-normal-looms-for-canadians-with-covid-19-deferral-programs-ending\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"\u2018New Normal\u2019 Looms for Canadians with COVID-19 Deferral Programs Ending"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/450319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=450319"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/450319\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=450319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=450319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=450319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}