Consumer Debt

• As Bank of Canada decision looms, Canadians worry they can’t afford more hikes

  As more Canadians worry about their ability to handle future rate hikes, others are finding they're having an easier time handling higher interest costs, a new survey found.

  Money

  Oct 18, 2023
  
• Canada’s banks brace for possible wave of loan defaults. Why that matters

  Canada's big six banks all reported this week that they're putting more money aside for possible loan defaults. Here's what to know about the outlook for Canadian credit.

  Money

  Mar 4, 2023
  
• Advertisement
• Debt worries rise amid higher interest rates and persistent inflation: MNP report

  A new report suggests Canadians' worries about debt are rising amid higher interest rates and persistent inflation.

  Consumer

  Jan 16, 2023
• Advertisement
• Consumer insolvencies in Canada hit highest number since COVID pandemic began

  During the pandemic, consumer and business insolvency numbers dropped as emergency aid helped buoy individuals and firms alike.

  Money

  Jan 5, 2023
• Canadian consumer debt climbs 7.3% to $2.36 trillion in third quarter: Equifax

  Equifax Canada says an increase in borrowers helped push total consumer debt to $2.36 trillion in the third quarter, even as mortgage volumes decline.

  Consumer

  Dec 6, 2022
• Rising inflation, interest rates push 1 in 4 British Columbians to cut back on essentials: poll

  And almost half (46 per cent) said they'd slashed spending on non-essentials like travelling, dining out and entertainment.

  Economy

  Jul 11, 2022
• More than half of B.C. residents feel the squeeze of interest rate hikes, survey finds

  Since the last financial quarter, the debt index found British Columbians had the largest decrease in disposable income across the country.

  Economy

  Apr 18, 2022
• Consumer debt continued to rise in Q4 but new mortgages declined: Equifax

  The number of new mortgages declined 8.1 per cent year over year in the last three months of , according to Equifax.

  Consumer

  Mar 7, 2022
• Advertisement
• Roughly half of Canadians financially insecure as debt confidence hits record low: report

  The latest MNP Consumer Debt Index found the twin stressors of holiday spending bills coming due and the resurgent COVID-19 pandemic has Canadians feeling squeezed.

  Money

  Jan 17, 2022
• Advertisement
• Canadian consumers are now carrying $2.1 trillion in debt, driven by mortgages

  Equifax says the debt profile of Canadians has changed throughout the COVID-19 pandemic, with mortgages accounting for a larger portion of people's debt.

  Consumer

  Jun 8, 2021