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Subprime Canadian Borrowers Are Weathering the Crisis Just Fine, Thanks

  • Government income programs keeping households awash in cash
  • goeasy says loan losses were at record low in second quarter
Moving Day As Movers Hope For July Push
Photographer: Christinne Muschi/Bloomberg

Canada’s most vulnerable debtors are holding up admirably through the worst economic contraction since the Great Depression, thanks to massive government assistance and a steep drop in monthly spending.

Non-bank lenders active in the subprime market -- such as goeasy Ltd. and Fairstone Financial Holdings Inc. -- are reporting stable or falling delinquencies. National insolvency figures meanwhile are plunging.