Canadian Debt
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Millennials set to face most economic pain in months ahead, RBC says. Here’s whyMillennials who are saddled with debt such as costly mortgages might well bear the brunt of higher interest rates in the months to come, a new RBC report argues.MoneyAug 23, 2023
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Money Tips Monday: How to deal with your credit card debtStatistics Canada data indicates that for every dollar the average Canadian household has as disposable income, $1.85 is owed in credit market debt.EconomyJun 26, 2023
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Banking regulator launching consultations on mortgage stress test as debt risks riseOFSI says that while the mortgage stress test has been helpful, more measures might be needed to reduce lending risks as debt-service levels surge.EconomyJan 12, 2023
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Interest rates have soared in 2022. Here’s how much more you’re paying to borrowCanadians are increasingly worried interest rates are rising faster than they can keep up, and it's not just homeowners. Here's who's feeling the pain as debt costs soar.MoneyDec 7, 2022
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Rising interest rates, high household debt to spur ‘payment shock’ for CanadiansVariable-rate debt is getting more expensive to carry as the Bank of Canadas hikes its benchmark interest rate, which could lead to financial pain for heavily indebted households.MoneySep 7, 2022
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Not all Canadians feel the pain of interest rate hikes. Here’s why that might changeThe Bank of Canada is expected to raise interest rates for the fifth time this year on Wednesday. Here's what's on the horizon for Canadian mortgage holders.ConsumerSep 6, 2022
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Canadians piled on more debt during COVID-19, see quality of life worsen: surveyCanadians struggling with debt are seeing their quality of life worsen during the COVID-19 pandemic, which has seen inflation rise, the 2021 BDO Affordability Index indicates.ConsumerOct 18, 2021
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‘Melt away the stress’: How to tackle debt during a pandemicFinancial expert Preet Banerjee says when planning to pay down debt, look at the interest rate, the size of debt, and whether the debt is increasing or decreasing.LifestyleFeb 17, 2021
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Over half in Saskatchewan close to insolvency: reportA pair of reports are painting a not-so-pretty picture of personal finances in Saskatchewan.CanadaOct 18, 2020
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Canadians fear debt almost as much as they fear death: surveyThe most common reported fears were surprise or unexpected expenses and not having enough money to retire.LifestyleOct 29, 2019
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