Canadians gaining financial ground but inflation bite lingers
“Consumers continue to recognize the value of credit, but they’re carefully weighing borrowing costs, eligibility and their financial needs before making decisions,” Fabian said.
Mortgage arrears in Canada have climbed from pandemic-era lows, reaching 0.28% of outstanding mortgages — but a new economic analysis from Desjardins Economic Studies argues the peak may already be approaching. https://t.co/BU0kL7Hlwr
— Canadian Mortgage Professional Magazine (@CMPmagazine) July 17, 2026
Fraud awareness reshaping financial habits
A less-discussed but significant finding: fraud exposure is changing how Canadians manage their credit health. The study found that 44% of respondents were targeted by fraud in the past three months without becoming victims, and 20% were notified they had been affected by a data breach.
Against that backdrop, 40% of Canadians now check their credit report at least monthly, up three percentage points year over year, driven more by fraud detection than credit score improvement.
Knowledge gaps persist, however. One third (33%) of consumers took no action to address cybersecurity risks, and more than half of that group said they were unsure what steps to take.
For brokers, these figures reinforce the value of proactive financial conversations. With the Canadian housing market revival hitting pause and a major renewal wave still underway, clients who are financially stretched and fraud-aware are looking for trusted guidance on both sides of the balance sheet.
