household debt News and Articles | My Blog
Renters have harder time accumulating wealth than homeowners: RBC economist
3/14/2024 | Posted in Financial Health by Paul DeAdder
Renters face daunting barriers in their attempts to build wealth as they’re forced to devote an increasing share of their income to keeping a roof over their head.
... MoreThere's a common theme among Canadians overwhelmed by debt
2/6/2024 | Posted in Financial Health by Paul DeAdder
Further analysis of the latest Canadian insolvency stats reveal some revealing elements that typically connect those whose finances have got too much for them.
... MoreUnder-35 households lead the way in reducing mortgage debt, StatCan reports
1/25/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.
... MoreBoC set to leave rate unchanged in January, says RBC
1/19/2024 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada is likely to leave its overnight rate unchanged in its first decision of 2024, according to new forward guidance by the Royal Bank of Canada.
... MoreHousehold debt levels set new record high in Q2
9/4/2023 | Posted in Financial Health by Paul DeAdder
Higher living costs are pushing more and more Canadians into debt, according to a new report.
... MoreRising mortgage interest costs now biggest factor driving inflation - and they're not done yet
6/28/2023 | Posted in Canada Living by Paul DeAdder
Inflation cooled on a month-over-month basis in May, but one factor that has been unrelenting in driving the consumer price index higher is mortgage interest costs — and ... More
When will the Bank of Canada put the brakes on its rate-hike campaign?
6/27/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Economists weigh in on the possibilities for the central bank’s policy rate
... MoreCanadians' mortgage borrowing hits lowest level since 2003
6/15/2023 | Posted in Financial Health by Paul DeAdder
Canadians' mortgage borrowing has reached its lowest level since 2003, primarily due to the impact of higher interest rates, according to recent data released by Statistics ... More
Canada's debt rises as rates cut into households' cash flow
6/14/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Hawkish monetary policy and inflation posing headwinds for borrowers, latest figures suggest
... MoreCanadian consumer debt hits all-time high, reaching $2.32 trillion in Q1 2023: TransUnion
6/1/2023 | Posted in Financial Health by Paul DeAdder
Amid interest rate hikes and high inflation, more Canadians are turning to credit for relief, with consumer debt hitting a new record in the first quarter of 2023.
... MoreCanada's residential mortgage debt now $2.08trn, says CMHC
5/25/2023 | Posted in Financial Health by Paul DeAdder
The federal housing agency has revealed the latest industry trends
... MoreCanada braces for higher mortgage defaults
4/21/2020 | Posted in Canadian Economy and Housing Market by Paul DeAdder
Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis ... More
Millions of Canadians already missing payments due to COVID-19
3/27/2020 | Posted in Financial Health by Paul DeAdder
The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms.
... MoreBig Six banks slash prime rates by half a point
3/17/2020 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More
Bank of Canada slashes policy rate to 0.75 per cent in surprise cut
3/13/2020 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the ... More
Changing the stress test may raise credit risk for banks says Fitch
2/27/2020 | Posted in Mortgages and Real Estate by Paul DeAdder
The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More
Canadian reverse mortgage debt reaches nearly $4 billion
1/28/2020 | Posted in Financial Health by Paul DeAdder
Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More
Canadians are cutting back on debt amid fears of recession
1/2/2020 | Posted in Canada Living by Paul DeAdder
Most Canadians held back from increasing their debt burden in 2019 and 1 in 5 say debt repayment is their top financial priority for 2020.
... MoreCanadian households to get short break from rising debt costs
12/31/2019 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
TD economists says the cost of servicing debts should ease early in 2020
... MoreCanadian Household Borrowing Jumps By 31%, StatCan Says
12/16/2019 | Posted in Financial Health by Paul DeAdder
Canadians' borrowing habits are back to where they were before policymakers cooled off the housing market. Lower interest rates are convincing some to borrow more.
... MoreCanadians' wealth reduced as real estate gains are erased
9/19/2019 | Posted in Canadian Economy and Housing Market by Paul DeAdder
The average Canadian household was worth less in 2018 than in the previous year.
... MoreStats Can releases Q2 household debt data
9/14/2019 | Posted in Financial Health by Paul DeAdder
Household income grew slightly faster than debt in the second quarter as the amount Canadians owe relative to their income edged down for the third quarter in a row.
... MoreA Bank of Canada rate cut as early as September
8/20/2019 | Posted in Interest Rates by Paul DeAdder
A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says.
... MoreBank of Canada keeps key interest rate steady
7/10/2019 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists.
... MoreOSFI increases domestic buffer to 2% amid household debt risk
6/6/2019 | Posted in GTA Real Estate by Paul DeAdder
Canada’s banks will have to set aside a larger share of their capital to protect against downturns in lending and other potential financial risks.
... MoreBank of Canada maintains overnight rate target at 1.75 per cent
5/29/2019 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada today maintained its target for the overnight rate.
... MoreInterest rate cut now unlikely say economists
5/27/2019 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada will make its May interest rate decision Wednesday but it’s unlikely there will be a change according to a panel of experts.
... MoreHousehold debt at a record high, senior mortgages increase
5/23/2019 | Posted in Financial Health by Paul DeAdder
Canadian households continued to pile up debt in the fourth quarter of 2018 according to a new report from CMHC.
... MoreDelinquency rates hold steady even as credit market grows
5/23/2019 | Posted in Financial Health by Paul DeAdder
The Canadian credit market has grown but it appears that consumers are generally managing their debt well.
... MoreCanadian Bankruptcies Jump At Fastest Pace Since Financial Crisis
5/14/2019 | Posted in Financial Health by Paul DeAdder
Higher interest rates and a record-large debt burden are taking their toll on Canadians, with the number of households filing for insolvency hitting an eight-year high in the ... More
