Consumer Debt Canada
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Consumer debt continued to rise in Q4 but new mortgages declined: EquifaxThe number of new mortgages declined 8.1 per cent year over year in the last three months of , according to Equifax.ConsumerMar 7, 2022
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30% of Canadians say they’re insolvent, MNP debt survey showsOverall, Canadians say they are financially better off, according to a survey by debt consultancy MNP. And yet the highest share of respondents since 2017 say they are insolvent.MoneyJul 19, 2021
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Canadian consumers are now carrying $2.1 trillion in debt, driven by mortgagesEquifax says the debt profile of Canadians has changed throughout the COVID-19 pandemic, with mortgages accounting for a larger portion of people's debt.ConsumerJun 8, 2021
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Two in five Canadians believe they will never be debt-freeAlmost half of respondents to a recent Manulife survey also said their spending was increasing faster than their income.MoneyNov 22, 2019
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Bank of Canada leaves interest rate unchanged at 1.75%Bank of Canada leaves its key rate unchanged, as expected, at 1.75 per cent.CanadaDec 5, 2018
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As another rate hike looms, more Canadians feel closer to insolvencyOne-third of debtors now say rising rates could move them toward bankruptcy, a recent MNP survey found. Meanwhile, delinquency rates are up among seniors, according to Equifax.MoneyOct 23, 2018
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Are indebted Canadians foolhardy or prey?Canadians should be responsible for their own debts, but Mike Stafford says Canadian banks and lenders have to share some responsibility, as well.CommentaryJul 16, 2018
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The average Canadian owes $8,500 in consumer debt, excluding their mortgage: Ipsos pollNearly half of respondents (46 per cent) said they have no consumer debt whatsoever.EconomyDec 27, 2017
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Calgary and Vancouver are, on average, Canada’s most indebted major cities: reportAverage debt balances per person have kept growing in almost every quarter since 2015, data show.ConsumerNov 30, 2017
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Millennials in big cities more likely to have no debt, save: surveyNew report yields surprising results about Canada's young urbanitesMoneyJun 28, 2017
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