Equifax Canadian Credit Statistics News

Equifax recently released their Canadian Consumer Credit Trends for December 2012. Here’s some of that they had to report on.

Credit seeking was down compared to the last 4 years.

Number of Non-Mortgage credit products is up from 2011 but down from 2007,2008,2009, 2010.  Total Balance is up since 2008.

Utilization on Non-Mortgage Credit products is down from 2011 but up from the previous 4 years.

Average Limit on Non-Mortgage Credit is on an increase from 2007.

For average Credit Card debt ,utilization is down from 2011 and down from previous 5 years.

Average limit on Credit Car Debt is down a fraction.

Average Balance on Credit Card Debt is very close to the previous 5 years.

Bank Installment loan Utilization is way down from 2011 and down from previous 5 years where is average limit is higher than previous(2011).

Average Balance on Bank installment loans is steady from 2011.

Bank Revolving Loans and Lines of Credit utilization is way down from 2010 and 2011 but higher than 2007.

Average limit on Revolvers and L.O.C. has been increasing since 2007 and Average balance is somewhat steady.

Auto Finance(car loans) Utilization is way up from 2007. It took a dip in 2009 and 2010 and is been on a huge increase since 2010.

Average Car loan utilization is approx 63% for 2012.

Average Balance for 2012 is approx $16500 for car loans.

Average limit for car loans is approx $26000. If we want to break this down to                           Calgary Car Loan numbers, the average Calgary car loan consumer utilization  is down from 2011 by about 2%. Average Calgary Car loan limit is up from 2011 about 2%.                                         Average Calgary Car Loan Balance is down from 2011.

Lets go into Delinquencies and Bankruptcies.(non mortgage). The total 90+ days delinquent is at approx the same levels as 2007. We are way down from 2009 and 2010 across Canada. For Calgary We are down as well.

For Bankruptcies Canada has shown an decrease of approx 4%. Calgary Bankruptcies has shown an increase year over year from 2011 to 2012 but under 1%.

 

Just my 2 Cents

-M

Mark

Mark

 

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