Fiscal Prudence Be Damned!

As pandemic-related government aid and loan deferral programs begin to wind down, the latest MNP Consumer Debt Index finds the number of Canadians hovering close to financial insolvency has reached a five-year high. More than half (53%) say they are…

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Equifax: Consumer Debt Continues to Climb

Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019. Despite the increase…

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Canadian Consumer Debt Tops $2 Trillion

Continued growth in the housing market and new auto loans led the way in driving total consumer debt up by 3.8 per cent to $2.041 trillion in the third quarter of 2020, according to Equifax Canada’s most recent report on…

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We are the Champions!

Canada is officially the global leader in debt.  The most heavily encumbered house in the neighborhood! A recent report by the Institute of International Finance (IIF) indicates Canada saw the biggest jump in non-financial sector debt this year.  Bigger than…

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