Gen Z Drives Canada’s Credit Growth as Delinquencies Begin to Stabilize

TransUnion's Q1 2026 Credit Industry Insights Report shows Gen Z is the fastest-growing credit segment in Canada with 460,000 new participants (7.8% YoY growth) and 9% higher non-mortgage debt balances. While Gen Z maintains higher delinquency rates than other generations, credit performance improved YoY across all delinquency levels. Overall Canadian consumer delinquencies are stabilizing above pre-2023 levels, with mortgage balances growing 3.85% YoY to $1.91 trillion, though balance-level delinquency is rising faster than account-level delinquency, indicating higher-balance loans are disproportionately affected.