I want to shift to other kinds of credit, if I can.
On May 29, a news release from the Canadian Mortgage and Housing Corporation said:
For the first time since the beginning of the pandemic, mortgage delinquency rates are trending up. Vulnerabilities first detected in credit card and auto loan markets are therefore moving into the mortgage market as well.
It goes on to say:
This suggests the financial buffers built up during the pandemic are becoming exhausted for some households.
Do you agree with that assessment? What comments do you have on that?