Household debt levels set new record high in Q2
9/4/2023 | Posted in Financial Health by Jessi Sandhu
Higher living costs are pushing more and more Canadians into debt, according to a new report.
... More
Businesses' changing credit usage a worrying trend: Equifax
6/20/2023 | Posted in Financial Health by Jessi Sandhu
Equifax Canada says new data suggests a significant shift in credit usage among businesses in the first quarter of 2023.
... More
Canadians' mortgage borrowing hits lowest level since 2003
6/15/2023 | Posted in Financial Health by Jessi Sandhu
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
Canadian consumer debt hits all-time high, reaching $2.32 trillion in Q1 2023: TransUnion
6/1/2023 | Posted in Financial Health by Jessi Sandhu
Amid interest rate hikes and high inflation, more Canadians are turning to credit for relief, with consumer debt hitting a new record in the first quarter of 2023.
... More
Canada's residential mortgage debt now $2.08trn, says CMHC
5/25/2023 | Posted in Financial Health by Jessi Sandhu
The federal housing agency has revealed the latest industry trends
... More
Millions of Canadians already missing payments due to COVID-19
3/27/2020 | Posted in Financial Health by Jessi Sandhu
The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms.
... More
Canadian reverse mortgage debt reaches nearly $4 billion
1/28/2020 | Posted in Financial Health by Jessi Sandhu
Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More
Canadian Household Borrowing Jumps By 31%, StatCan Says
12/16/2019 | Posted in Financial Health by Jessi Sandhu
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.
... More
Stats Can releases Q2 household debt data
9/14/2019 | Posted in Financial Health by Jessi Sandhu
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.
... More
Average Canadian household spent more on taxes than living costs in 2018, report finds
8/2/2019 | Posted in Financial Health by Jessi Sandhu
The average Canadian household paid nearly $40,000 in taxes last year, more than the combined cost of clothing, food and shelter, according to a new report.
... More
CRA issues warning about real estate investment schemes
6/11/2019 | Posted in Financial Health by Jessi Sandhu
A warning has been issued regarding investment schemes that promise tax write-offs by investing in real estate through limited partnerships.
... More
Household debt at a record high, senior mortgages increase
5/23/2019 | Posted in Financial Health by Jessi Sandhu
Canadian households continued to pile up debt in the fourth quarter of 2018 according to a new report from CMHC.
... More
Delinquency rates hold steady even as credit market grows
5/23/2019 | Posted in Financial Health by Jessi Sandhu
The Canadian credit market has grown but it appears that consumers are generally managing their debt well.
... More
Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis
5/14/2019 | Posted in Financial Health by Jessi Sandhu
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
48% of Canadians on brink of insolvency: Survey
4/22/2019 | Posted in Financial Health by Jessi Sandhu
Sign of deteriorating financial stability for many people in the country.
... More
More Canadians say they are at risk of insolvency
1/22/2019 | Posted in Financial Health by Jessi Sandhu
An increasing number of Canadians say they are concerned about their debts and are edging towards insolvency.
... More
More people are going broke in Canada as interest rates rise
1/9/2019 | Posted in Financial Health by Jessi Sandhu
It's a worrying sign for an economy that has relied so heavily on consumer spending and the housing market to drive growth.
... More
TFSA Limit Rises to $6,000 for 2019
12/6/2018 | Posted in Financial Health by Jessi Sandhu
The TFSA contribution limit for 2019 is $6,000, up from $5,500 in 2018.
... More
9/18/2018 | Posted in Financial Health by Jessi Sandhu
Data showing that interest rates are rising faster than income provide a wake-up call to Canadian consumers who are taking on unsustainable amounts of debt.
... More
Canadians' tax bills outpaced housing, food in 2017
8/16/2018 | Posted in Financial Health by Jessi Sandhu
Despite rising mortgage costs, rents, and grocery bills, these were not the biggest drain on the average Canadian household income last year.
... MoreAt Your Service
Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and we'll get back to you promptly.