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…
Higher interest rates are slowing mortgage borrowing but debt is still growing fast. Bank of Canada (BoC) data shows outstanding mortgage credit climbed in May 2022. Falling home sales are beginning to erode the pace of borrowing. Even with…
As announced by Statistics Canada May 18, 2022 the cost of living continues to rise at the fastest pace in decades, rising at a 6.8% annual pace in April. The CBC blames global factors including the war in Ukraine disrupting…
The enduring financial impacts of COVID-19 coupled with the pressures of rising interest rates and a higher cost of living are weighing down Canadians’ confidence in their personal finances, according to the MNP Consumer Debt Index which…
The MNP Consumer Debt Index has dropped by a staggering seven points through its nineteenth wave to sit at 88 points. Latest survey results released January 17, 2022 reveal deep-seated pessimism around the amount of debt households already have,…
While a majority of households say they’ll be hurt by higher borrowing costs, they are much more concerned about the rising cost of living, according to polling late last month by Nanos Research Group for Bloomberg News. Almost nine in…