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Thursday, January 9th, 2020

Average Canadian’s consumer debt hits $25,960

The average consumer’s debt load climbed to a record high $25,960 at the end of 2011, although annual data from a credit bureau report released today suggests that the Canadian love affair with debt is waning. Consumer debt, which excludes mortgages, edged 1.4 per cent higher in the fourth quarter of 2011 from the previous […]

CMHC agreeing with brokers?

A new report is backing up a broker beef, confirming consumer credit card debt has significantly outpaced mortgage growth. “Consumer credit, which makes up the remainder of household debt, grew at a faster rate than mortgage debt in the last two decades,” reads the 2011 Canadian Housing Observer, a comprehensive CMHC report on the state […]

Seniors taking on debt at alarming pace

Second properties and flashier cars are driving senior citizens into escalating levels of debt, a TD Economics paper says. Many people 65 years old and older are borrowing to buy vacation and investment properties at a time of continued low interest rates and low returns on other investments, says the TD Economics paper released Tuesday. […]

Most Canadians feel their debt situation better than others’

OTTAWA — When Canadians see news about the country’s growing issue with personal debt, it seems most feel it’s other people — not them — causing the problem. At least that’s the suggestion of a survey done for Royal Bank of Canada, results for which were released Wednesday. The RBC poll had 75 per cent […]

Canadians Feel They Are in Better Debt Shape than Their Friends and Neighbours: RBC Poll

Younger Canadians feel most anxious about debt and are most likely to delay plans TORONTO, September 14, 2011— Three-quarters of Canadians (75 per cent) feel they are in better shape with their non-mortgage debt than their friends and neighbours and more than half (58 per cent) say they are happy with their current total debt situation, […]

Consumers cope as prices rise

Canadians are digging in and watching their pennies, finding new — and old — ways to cope as the country’s highest inflation rate in eight years smacks up against record consumer debt levels. According to the RBC Canadian Consumer Outlook Index, released Wednesday, Canadians are carrying an average $13,058 in personal debt — not including […]

Household Debt Slowing, But Still Growing: BMO

TORONTO, June 21, 2011 – Although the growth in Canadian household debt is slowing and household assets are rising, debt ratios have pushed further above levels in the United States, and more steps need to be taken to repair the household balance sheet, according to Doug Porter, Deputy Chief Economist, and Sal Guatieri, Senior Economist […]

Canadians take Carney’s debt warning to heart

Canadians appear to have gotten the message Mark Carney was sending when the Bank of Canada governor went public last year with his concerns about rising levels of household debt. In the months since his remarks – which were augmented by changes to lending rules by Ottawa – growth in consumer borrowing has noticeably slowed, […]

Younger families most snared by debt

Debt is the slavery of the free, the Syrian writer Publilius Syrus said all the way back in the 1st century B.C. And here we are, a few millennia later, more ensnared than ever. Canadian household debt loads hit record territory this year, surpassing even levels south of the border. A new Statistics Canada paper […]

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