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The average Canadian mortgage is now almost $200,000, up 5 per cent in a year.
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Credit bureau TransUnion warned us this would happen.
And it's not just mortgages.
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How long can super-low interest rates last?
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There is "a gradual shift" to riskier borrowers in Canada.
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Lenders have been using a person's credit report for years to judge their overall creditworthiness and the risk that they might default and become a bad debt. However, financial institutions often use another measure, a bankruptcy score, to refuse a loan application for someone who may otherwise have good credit.
Since debt became super cheap after the Great Recession, we all have taken on a ton of of it. Nationally we have an average of $27,000 in non-mortgage debt -- and $190,000 in mortgage debt. Here is how we all can get rid of our debt in 10 years so we can enjoy our retirements and our lives debt-free.
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TORONTO — Credit monitoring agency TransUnion says Canadians appear to be getting better at handling consumer debt. In its latest report, TransUnion says a shrinking percentage of debt payments are ov...
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With low interest rates our average debt service ratio is at record lows. In 1990 Canadians used over 11 per cent of their disposable income to pay interest on their debt; today we only need 7 per cent of our income to pay interest. All is good. Or is it?
TORONTO - Credit-monitoring agency TransUnion says the non-mortgage debt of Canadians is likely to set a record next year.In its first such annual forecast, TransUnion predicts the average consumer's...
TORONTO - Canadians have pushed their debt levels to an eight-year high in a climate of ultra-low interest rates, according to a new report that suggests consumers are unmoved by repeated warnings tha...