Alberta has the dubious distinction of having the highest non-mortgage payment delinquency rate of any province in Canada, according to the Q2 2026 Market Pulse Quarterly Consumer Credit Trends a consumer credit data report from Equifax Canada, released on Monday.
The report says the delinquency rate of more than 90 days is 2.45%, with an average non-mortgage debt of $25,082.
Since 2024, an estimated 70,000 people have moved to Alberta from Ontario and BC, both provinces with higher costs of living than in Alberta.
“Equifax found in the analysis more than 70% of migrants under the age of 35 came from Ontario and BC,” says the report. “Among migrants under 25, the consumer delinquency rate was 7.14%, compared with the Alberta average of 5.42%, while under-35 migrants arriving from BC had a missed-payment rate of 7.71%.
The report highlights Fort McMurray with an average non-mortgage debt of $38,074, while Edmonton’s 90+ day delinquency rate by balance was 2.69%.
Nationally, Canadian consumer debt reached $2.68 trillion, up 4.2% year-over-year, a 4.18% increase compared to Q2 2025 and a 1.3% rise from the previous quarter.
Following a drop in non-mortgage debt in Q1 2026, balances saw a seasonal rebound in the second quarter.
“Non-mortgage debt climbed to $712.2 billion in Q2, marking a 4.8% jump year-over-year and a 2.09% increase from Q1 2026,” said Rebecca Oakes, vice-president of advanced analytics at Equifax Canada. “National 90-plus day non-mortgage balance delinquency rates saw a seasonal improvement, dipping to 1.76% in Q2 2026 from 1.79% in Q1, though it remained elevated compared to the 1.7% rate observed a year ago.”
"Between March and June, we typically see non-mortgage debt levels rising and missed payments falling," added Oakes. “This year has followed a similar pattern as consumers remain cautious, particularly around major purchases. And while rising delinquency levels have started to slow, pockets of growing stress are still evident in some areas.”
Nationally, non-mortgage debt for mortgage holders grew by 1.9% compared to the previous quarter, reaching $304.6 billion in Q2. Their more-than-90-day non-mortgage delinquency rate crept up to 0.77%, an increase of 0.4% compared to Q1 and 12.5% rise year-on-year.
Looking at potential mortgage debt, first-time home buyers are increasingly relying on co-borrowers, with joint mortgages among the group rising from 57.6% in 2016 to 70.9% through Q2 2026.
Among first-time homebuyers under 35, Ontario and BC had roughly twice the proportion of joint mortgages involving borrowers 20 or more years apart than the rest of Canada, pointing to greater reliance on parental or family support.
“For many younger Canadians, buying a first home seems to increasingly mean doing it with someone else,” said Oakes. “Family support appears to play a larger role in higher-cost markets.”
Canadians were slow to use credit cards early in 2026, but balances grew in Q2, supported by a seasonal rise in consumer spending. When adjusted for inflation, the average credit card spend per consumer climbed steadily throughout the quarter, reaching $2,192, 1.4% higher than 12 months ago.
National credit card debt rose to $134.2 billion in Q2, up from $130.6 billion in Q1 2026, with the more than 90-day delinquency rate improving to 4.19%, down from 4.28% in the previous quarter, but still 6.8% higher than 2025.
The report says 65% of consumers paid their credit card balance in full each month, with minimum payment levels stable at 4%. Equifax found consumers surveyed were concerned about making their payments with 25% of respondents noting that they expect to make only minimum payments in coming months, while another 7% believe they are likely to fall behind.
"When we compare our recent survey to the data we are seeing today, it highlights that although the numbers are currently stable, consumers may be worried about maintaining this position," explained Oakes. "There seems to be a significant amount of uncertainty in the current environment, and we need to be aware of the impact that any additional economic pressures could have on this particular consumer group."
