Equifax says total consumer debt $2.32 trillion in Q2, up 8.2% from year ago
Posted: Sep 11th, 2022In: ConstructionNewsTORONTO – Equifax Canada says total consumer debt rose to $2.32 trillion in the second quarter, up 8.2 per cent compared with the same quarter last year. The report by the credit rating agency says increases in[...]
Read More about Equifax says total consumer debt $2.32 trillion in Q2, up 8.2% from year agoCanadians vulnerable to ‘payment shock’ as debt, interest rates climb, experts say
Posted: Sep 10th, 2022In: ConstructionNewsCanadians are increasingly vulnerable to “payment shock” as higher household debt levels collide with oversized interest rate hikes. The Bank of Canada raised its key lending rate by three-quarters of a percentage point Wednesday, making it more expensive to borrow money[...]
Read More about Canadians vulnerable to ‘payment shock’ as debt, interest rates climb, experts sayBank CEOs say higher rates starting to dampen growth despite economic buffers
Posted: Sep 8th, 2022In: ConstructionNewsTORONTO – The heads of Canada’s biggest banks say rising interest rates are starting to have their intended effect of slowing demand but that for now they continue to notch growth. Speaking at an investment conference in Toronto on[...]
Read More about Bank CEOs say higher rates starting to dampen growth despite economic buffersKey household debt to income ratio down in Q1 as income rises faster than debt
Posted: Jun 14th, 2022In: ConstructionNewsOTTAWA – Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew faster than debt.[...]
Read More about Key household debt to income ratio down in Q1 as income rises faster than debtCanadians took out fewer new mortgages in Q4 while debt continued to increase
Posted: Mar 8th, 2022In: ConstructionNewsTORONTO – Canadians took out fewer new mortgages even before interest rates began to rise last week, but consumer debt continued to increase in the fourth quarter, Equifax said in a report. The company said[...]
Read More about Canadians took out fewer new mortgages in Q4 while debt continued to increase