Generation Z is emerging as the fastest-growing and most dynamic segment of Canada's credit market, according to a TransUnion analysis released alongside its Q1 2026 Credit Industry Insights Report. The number of Gen Z consumers with at least one active credit product rose by over 460,000 year-over-year, a 7.8% increase, while their average non-mortgage balances climbed 9.1% to $13,621, outpacing all other generations. Despite holding the highest serious delinquency rate at 2.75%, Gen Z posted the largest year-over-year improvement, with the rate falling 11 basis points. Overall consumer-level serious delinquency across all credit products edged down to 1.86% nationally, signaling potential stabilization after rising from 1.48% in early 2022, though regional divergences persist, with Alberta's rate rising to 2.43% while several provinces recorded declines. Mortgage balances continued to grow, with total outstanding balances up 3.85% year-over-year to $1.91 trillion, and mortgage delinquency rates have returned to pre-pandemic levels, though balance-based delinquency rose faster than account-based delinquency, indicating higher-balance loans are disproportionately affected.
TransUnionTransUnion's own report shows Gen Z driving credit growth and stabilizing delinquencies, indicating strong demand for its credit data and analytics services.