I certainly can speak to the data points that we see here at Equifax.
I have a few things to call out.
As Sue mentioned a little at the beginning, the aggregate numbers do sometimes mask what is truly going on behind the actual data underneath.
With regard to your question about refinancing and what's happening, when we look at the mortgage market in particular, we have seen that, yes, although missed payments on mortgages remain quite low across Canada, there are subgroups of that population in which stress is still evident. For example, high-balance mortgages in Ontario and B.C. are at levels that are much higher than we saw before the pandemic. When we look at some of those other elements.... For example, on the younger consumer side of things, we have seen missed payments rising, particularly on products such as credit cards. There definitely is a growing risk across some segments of the population.