nonmortgage debt News and Articles | My Blog
B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says
3/5/2024 | Posted in Financial Health by Paul DeAdder
Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023.
... 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.
... 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 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.
... 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.
... MoreMortgage market suffers 'extended chill' says Equifax
6/17/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
The Canadian mortgage market continues to suffer from the impact of lower home sales in major markets as the stress tests weaken homebuyers’ abilities.
... 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
Household debt to have knock-on effect upon banks, economy
4/29/2019 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Canadians now owe an average of $1.79 for every dollar of disposable income.
... MoreBank of Canada keeps rates steady, cuts language about future hikes
4/24/2019 | Posted in Interest Rates by Paul DeAdder
Bank of Canada keeps rates steady, cuts language about future hikes.
... More48% of Canadians on brink of insolvency: Survey
4/22/2019 | Posted in Financial Health by Paul DeAdder
Sign of deteriorating financial stability for many people in the country.
... MoreBank of Canada's Poloz says stimulative rates needed for temporary soft patch
4/2/2019 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Poloz's optimism Monday about the future could ease speculation the central bank could lower rates.
... MoreBank of Canada to hold interest rates through 2020: TD Securities
3/15/2019 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates ... More
Rising debts could see rise of second mortgages
3/14/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s household debt levels will force around 1 in 5 people with debt to sell assets to stay above water.
... MoreMortgage delinquencies on the rise
3/6/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
More Canadians are running into serious issues with their mortgage payments according to a new report.
... MoreWhy Canadians are suffering a bankruptcy spike
2/25/2019 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada began raising its key overnight lending rate in July 2017 and it’s now at the highest level in a decade. Accustomed to historically low and even ... More
The reason behind 40% of Ontarian insolvencies
2/20/2019 | Posted in Ontario News by Paul DeAdder
A recent report reveals desperate measures of indebted consumers in Ontario.
... MoreMore Canadians say they are at risk of insolvency
1/22/2019 | Posted in Financial Health by Paul DeAdder
An increasing number of Canadians say they are concerned about their debts and are edging towards insolvency.
... MorePoloz buys borrowers more time but punishes savers
1/16/2019 | Posted in Interest Rates by Paul DeAdder
What the Bank of Canada's decision to hold its key rate means for borrowers and savers.
... MoreMore people are going broke in Canada as interest rates rise
1/9/2019 | Posted in Financial Health by Paul DeAdder
It's a worrying sign for an economy that has relied so heavily on consumer spending and the housing market to drive growth.
... More12/17/2018 | Posted in Canadian Economy and Housing Market by Paul DeAdder
The prospect of interest rate hikes is particularly daunting for residents of Toronto and Vancouver—two cities with debt levels well above the national average.
... MoreCanadian Household Debt Growth Slows Down
12/7/2018 | Posted in Canadian Economy and Housing Market by Paul DeAdder
Rising interest rates and new mortgage rules have finally forced an end to years of rapid lending, according to the latest data from Bank of Canada.
... MoreBank of Canada wants rates back to normal - what that means for your mortgage, line of credit
11/2/2018 | Posted in Canadian Economy and Housing Market by Paul DeAdder
The benchmark rate set by the central bank is called the overnight rate and it’s now at 1.75 per cent, up from 0.5 per cent in the summer of 2017.
... More