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…
Shoveling more money out door, along with having rising expectations of increased defaults. Makes sense in our bizarro world, to wit; This past week earning for Canada’s biggest banks saw the country’s major lenders move in lockstep ahead of a projected economic…
Canadians report struggling with the rising cost of living and the consequences of seven interest rate increases throughout 2022. Nearly seven in 10 households (68%, +11 pts) say they’re feeling the effects of higher interest rates, Six in 10 Canadians…
CIBC’s annual Financial Priorities poll finds that repaying debt is the number one goal for Canadians in 2023 (18 per cent), while inflation (65 per cent), rising interest rates (30 per cent), and recessionary fears (24 per cent) top the…