Business UpdateJun 23, 2026, 06:01 AM
TransUnion: Gen Z Drives Canadian Credit Growth; Delinquencies Stabilize
AI Summary
TransUnion's Q1 2026 Credit Industry Insights Report for Canada highlights Gen Z as the fastest-growing segment, with their credit-active population increasing by 7.8% YoY and non-mortgage debt balances rising 9.1% YoY. Despite having higher delinquency rates than other generations, Gen Z showed the strongest year-over-year improvement in credit performance. Overall Canadian credit delinquencies are showing signs of stabilization, though mortgage balances continue to climb and their delinquency rates have returned to pre-pandemic levels, indicating ongoing affordability pressures.
Key Highlights
- Gen Z credit active consumers increased by 7.8% YoY in Canada.
- Gen Z non-mortgage debt balances rose 9.1% YoY to $13,621.
- Gen Z serious delinquency rate improved by 11 bps YoY to 2.75%.
- Total Canadian consumer delinquency (90+ DPD) edged down 2 bps YoY to 1.86%.
- Mortgage balances grew 3.85% YoY to $1.91 trillion.
- Mortgage 90+ day delinquency reached 0.19% in Q1 2026, up from 0.16% YoY.
Price Impact
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