Household Debt Canada

Let's Become the True North Strong and Debt-Free

Jeffrey Schwartz | Posted 07.01.2015 | Canada Business
Jeffrey Schwartz

Canadians have many reasons to celebrate as their nation turns 148 years old tomorrow. They can even feel a bit of pride in an area that normally provides a healthy dose of shame in the headlines: personal finance. Let's take a look at a list of Canadian financial accomplishments along with lessons we can use to help us become the True North, Strong and Debt-Free.

Suddenly, Another Interest Rate Cut Is Back In The Cards

The Huffington Post Canada | Daniel Tencer | Posted 06.30.2015 | Canada Business

Cut could come as soon as July 15 CIBC: 'Indebted households don’t need even lower borrowing costs' Poloz: Soaring household debt a necess...

Seniors Going Bankrupt In Soaring Numbers

CBC | Posted 06.29.2015 | Canada Business

Judy Southon never imagined it would come to this. She and her husband Vic had good jobs, raised a son and were homeowners. But after a run of bad l...

Many Canadians In Trouble If Mortgage Rates Rise A Little

CP | Alexandra Posadzki, The Canadian Press | Posted 06.16.2015 | Canada Business

TORONTO - A survey by Manulife Bank of Canada says nearly half of Canadian homeowners are taking steps to whittle down their mortgage debt, but many w...

Finally Some (Small) Improvement In Household Debt

CP | The Canadian Press | Posted 06.12.2015 | Canada Business

OTTAWA - The ratio of how much Canadians owe compared with how much they earn improved in the first quarter for the first time since steadily worsenin...

Consumer Debt Spikes As Western Canadian Delinquencies Rise

CP | Craig Wong, The Canadian Press | Posted 06.09.2015 | Canada Business

TORONTO - Credit monitoring agency Equifax says it is starting to see small increases in the delinquency rates in Saskatchewan and Alberta that should...

Take a Buyer Beware Approach to Ontario's New Debt Settlement Laws

Douglas Hoyes | Posted 06.05.2015 | Canada Business
Douglas Hoyes

On July 1, 2015 the long awaited legislation regulating debt settlement services in Ontario comes into force. There are three main features of this new legislation that will impact Ontario consumers, with a ripple effect across the country. The biggest potential benefit to consumers will be the moratorium on up-front fees charged for no real service provided.

The Surprisingly Responsible Thing Canadians Do With Their Extra Cash

CP | The Canadian Press | Posted 06.03.2015 | Canada Business

OTTAWA - Low oil prices may be putting a few extra dollars in the pockets of Canadians, but record debt levels have us taking a conservative approach ...

Be Good to Debt and Debt May Be Good to You

Jeffrey Schwartz | Posted 05.27.2015 | Canada Business
Jeffrey Schwartz

Debt has been in the news a lot lately. The major news outlets in Canada are paying attention to our record-high household debt levels and are doing some fantastic reporting about the effects of oil prices, housing, health, divorce, and all the other factors that can damage a family's bottom line. Yet amid this rabble of expert voices and real Canadian tales of debt crisis, there was one lone dissenter.

Fraser Institute's Study On Consumer Debt Called ‘Misleading'

The Huffington Post Canada | Daniel Tencer | Posted 05.27.2015 | Canada Business

A new debate has opened up on a question that has many households worried: Have Canadians taken on too much debt? On one side of the debate is the ...

No Need To Worry About Debt, Fraser Institute Says

CP | Posted 05.20.2015 | Canada Business

OTTAWA — Canadians are carrying record amounts of debt, but they are managing their finances prudently, according to a report by the Fraser Institut...

Bad Sign: Canadian Consumer Insolvencies Are On The Rise

The Huffington Post Canada | Daniel Tencer | Posted 05.19.2015 | Canada Business

In Alberta they rose 6.5 per cent, “the worst showing since the recession."

‘The Lowest Known Posted Mortgage Rate In Canadian History'

The Huffington Post Canada | Daniel Tencer | Posted 04.10.2015 | Canada Business

Just when you thought Canada’s house-price-spiking, drive-the-nation-into-debt mortgage wars couldn’t get any crazier, they just did. Ontario c...

Canadian Household Debt Hits Record High, Again

CP | Posted 03.12.2015 | Canada Business

OTTAWA - Statistics Canada says the ratio of household debt to disposable income hit a new high in the fourth quarter as incomes increased at a slower...

Consumer Debt Jumped 7.7% Last Year

CP | Posted 03.03.2015 | Canada Business

TORONTO — Consumers are continuing to pile on debt despite economic uncertainty created by the sharp drop in oil prices. Credit monitoring agency...

More Than A Quarter Of Canadians ‘In Debt Denial'

The Huffington Post Canada | Daniel Tencer | Posted 03.02.2015 | Canada Business

As consumer debt continues to expand, a new study finds many Canadians have a rosier view of their debt situation than they should. Consumer credit...

Poloz Unsure Of Oil Crash's Impact .. But Debt Will Rise

CP | Terry Pedwell, The Canadian Press | Posted 04.26.2015 | Canada Business

LONDON, Ont. - The impact of lower oil prices and how much they will hurt Canada's economy remains unclear, but last month's surprise rate cut gives t...

Canada 2nd Only To Greece In Household Debt Growth

The Huffington Post Canada | Daniel Tencer | Posted 02.05.2015 | Canada Business

Canada one of seven countries at risk Housing downturn could mean 'downward spiral' for economy Condo boom may be driving up debt Canad...

..And Here Comes The Latest Mortgage Rate War

The Huffington Post Canada | Daniel Tencer | Posted 01.26.2015 | Canada Business

In the days after the Bank of Canada surprised everybody with a cut to the key lending rate last week, everyone was wondering whether mortgage rates w...

Interest Rate Cut Buys You Some Breathing Room, Not A New House

CP | By Ross Marowits, The Canadian Press | Posted 01.22.2015 | Canada Business

MONTREAL — The Bank of Canada's surprise interest rate cut may provide some financial relief for borrowers, but experts say the main focus of Canadi...

THIS Is A Top Priority For Canadians

CP | Posted 12.30.2014 | Canada Business

TORONTO -- A new poll suggests that paying down debt is the biggest financial priority for Canadians in 2015. It is the fifth year in a row that de...

Household Debt Hits All-Time High

CP/HuffPost Canada | Alexandra Posadzki, The Canadian Press | Posted 02.14.2015 | Canada Business

Canadian household debt reached an all-time high in the third quarter of 2014, Reuters reports. Average household debt reached 162.6 per cent of av...

BoC: Houses Overvalued, Risky Lending Now A Problem

CP | Posted 12.10.2014 | Canada Business

OTTAWA — The Bank of Canada says housing prices could be overvalued by as much as 30 per cent, but governor Stephen Poloz maintains the country's st...

Canada's Catch-22: Bankruptcies Could Soar If Economy Improves

The Huffington Post Canada | Daniel Tencer | Posted 12.09.2014 | Canada Business

There is a Catch-22 in Canada’s economy, which is this: When things get good again, it will cause things to go bad. That’s because Canadians ha...

Canadians' Debt Levels 'Unsustainable,' Fitch Ratings Warns

CBC | Posted 02.07.2015 | Canada Business

Canadian levels of consumer debt, especially mortgage debt, were termed “unsustainable” by ratings agency Fitch in a report that gives a negative ...