Canadian Debt

• Millennials set to face most economic pain in months ahead, RBC says. Here’s why

  Millennials 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.

  Money

  Aug 23, 2023
  
• Money Tips Monday: How to deal with your credit card debt

  Statistics Canada data indicates that for every dollar the average Canadian household has as disposable income, $1.85 is owed in credit market debt.

  Economy

  Jun 26, 2023
  
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• Banking regulator launching consultations on mortgage stress test as debt risks rise

  OFSI says that while the mortgage stress test has been helpful, more measures might be needed to reduce lending risks as debt-service levels surge.

  Economy

  Jan 12, 2023
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• Interest rates have soared in 2022. Here’s how much more you’re paying to borrow

  Canadians 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.

  Money

  Dec 7, 2022
• Rising interest rates, high household debt to spur ‘payment shock’ for Canadians

  Variable-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.

  Money

  Sep 7, 2022
• Not all Canadians feel the pain of interest rate hikes. Here’s why that might change

  The 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.

  Consumer

  Sep 6, 2022
• Canadians piled on more debt during COVID-19, see quality of life worsen: survey

  Canadians 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.

  Consumer

  Oct 18, 2021
• ‘Melt away the stress’: How to tackle debt during a pandemic

  Financial 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.

  Lifestyle

  Feb 17, 2021
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• Over half in Saskatchewan close to insolvency: report

  A pair of reports are painting a not-so-pretty picture of personal finances in Saskatchewan.

  Canada

  Oct 18, 2020
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• Canadians fear debt almost as much as they fear death: survey

  The most common reported fears were surprise or unexpected expenses and not having enough money to retire.

  Lifestyle

  Oct 29, 2019