Core Insights - Younger Canadians are increasingly considering switching lenders for better credit support, with a significant number of mortgage holders also exploring refinancing options [1][4][8] Consumer Behavior and Preferences - 41% of mortgage holders have considered switching lenders in the past year, with 38% receiving refinancing offers from other institutions [4] - 62% of younger mortgage holders plan to explore refinancing at renewal time, compared to 52% of those aged 35 and older [4] - 57% of Canadians under 35 would switch financial institutions for better credit monitoring, versus 38% of those aged 35+ [8] Generational and Newcomer Insights - 72% of Canadians aged 35+ feel they have sufficient access to credit, while only 62% of those under 35 agree [5] - 84% of newcomers to Canada consider access to credit important for achieving their goals, compared to 78% of Canadian-born respondents [5] Credit Protection and Identity Security - 95% of surveyed Canadians believe protecting their credit and identity is very important [6][8] - Regular credit monitoring and strong digital security practices are recommended for safeguarding financial goals [6] Gaps in Financial Support - 19% of Canadians feel they lack sufficient access to necessary credit and lending products [7] - Only 47% believe their current bank or lender is helping them achieve financial goals, and just over half trust their lender to improve their credit over time [7] Equifax's Role and Solutions - Equifax offers various solutions to assist Canadians in managing their credit and financial decisions, including consumer education and identity protection services [9] - The company emphasizes the importance of data and analytics in helping consumers and lenders make informed decisions [11]