Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates

TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- More Canadians borrowed and used credit in the third quarter of 2024, as interest rates and inflation continued to decline, pushing the total consumer credit debt to a record $2.5 trillion, a 4.1% year-over-year (YoY) increase, according to TransUnion’s Q3 2024 Credit Industry Insights Report (CIIR). The number of Canadians with at least one credit product rose to 32.2 million, a 3.1% increase YoY, and the number of Canadians with an outstanding balance also rose to 29.7 million, a 2.8% increase YoY. Read More

Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates

Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates

Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates

Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates

Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates