Some alarming numbers out on Thursday about the level of consumer credit debt in Alberta.
A report by Equifax shows that the province – and its two major cities Calgary and Edmonton – lead the country in average debt excluding mortgages. And the delinquency rates on that debt after 90 days is on the rise.
In the fourth quarter of 2019, Calgary had the highest average of consumer credit debt, excluding mortgages, of all major Canadian centres at $29,789 which was actually down 1.03 per cent from a year ago. The delinquency rate of 1.37 per cent however spiked by 13.27 per cent year-over-year.
Edmonton was the second highest at $28,350 which also dropped by 1.78 per cent from a year ago. But its delinquency rate of 1.60 per cent rose by 13.68 per cent year-over-year.
The average consumer credit debt, excluding mortgages, in Fort McMurray was $39,674 which dropped by 0.60 per cent from a year ago. The city’s delinquency rate of 1.94 per cent was up 10.61 per cent from last year.
As a province, Alberta led the country with the highest level of debt at $29,076 which was down 1.46 per cent from last year. The delinquency rate in Alberta rose by 13.27 per cent to 1.53 per cent.
The national average was $23,760, which rose by 1.02 per cent year-0ver-year, with a delinquency rate of 1.19 per cent. That rose by 10.97 per cent from last year.
