Highlights: Debt can occur for any number of reasons, many of which are beyond a person’s control. Your finances are closely connected to your overall well-being, so debt and other money issues can be a major strain on your mental…
According to the release this week of MNP Consumer Debt Index Canadian’s current debt perception has reached near all time lows. This marks the second-lowest level in five years as the impact of inflation and higher interest rates leaves Canadians…
The Bank of Canada (BOC) Survey of Consumer Expectations was released yesterday and right on queue we’ve been given a big bowl of word salad. Also right on queue is main stream media simply passing on the…
Canadian consumer debt reached $2.4 trillion, according to Equifax® Canada’s most recent Market Pulse consumer credit trends and insights report. Despite a sluggish mortgage market, non-mortgage debt showed a seasonal rise in the second quarter of 2023, with credit card…
Is it accurate to consider ourselves a first world country with over half the population within $200.00 of not meeting their monthly financial obligations? I guess like everything, the definition of words like “first world” can just simply be changed…
The neophyte “journalists” of the Canadian mainstream media (CBC, Global, Bell), with their liberal arts degrees in who knows what, have been chortling this week that the inflation dragon has been slayed (on behalf of their paymasters in Ottawa). But…
Nothing like sticking your head in a vice. Household debt in Canada is now the highest of any G7 country, according to data released in late May by the Canadian Mortgage & Housing Corporation (CMHC) The amount owed by Canadian…
Canadian business insolvencies are back with a fury. Business insolvency filings with the Office of The Superintendent of Bankruptcy (OSB) climbed sharply in February. The number of businesses seeking creditor relief is now back to normal levels, before pandemic…
Despite recovering 12 of the 15 points it lost last quarter, the MNP Consumer Debt Index remains more than 10 points below the historical average. The improvement reflects improved optimism, but households are far from optimistic. A scant 15 percent…
After falling during the pandemic, consumer insolvencies are once again increasing with Canadian volumes rising by 11% year over year. The pace of growth increased throughout the year, with Canadian insolvencies up an average of 19% in the second half…