Bank of Canada's Macklem says 'too early' to consider rate cuts

12/15/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada’s top official said policymakers will consider cutting interest rates when inflation is “clearly” on a path to the two per cent target, but ... More

Tags: Canada Inflation Rate, Canada Living, Consumer Confidence, Consumer Spending, Economic Growth, Interest Rates

What mortgage owners need to know about the Bank of Canada's rate hike

7/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of higher ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Consumer Spending, Home Buyers, Mortgage Consumers

Canada braces for higher mortgage defaults

4/21/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis of ... More

Tags: Canada Living, Canada Real Estate, Canadian Households, Canadian Housing Market, Consumer Spending, Household Debt, Mortgage Consumers, Mortgage Delinquency

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

Tags: Consumer Confidence, Consumer Spending, Cost of Living, Household Debt, Personal Finance

Canadian consumer confidence takes unprecedented slump

3/19/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

A measure of Canada’s consumer confidence has reported its biggest drop ever amid the COVID-19 pandemic. ... More

Tags: Canadian Housing Market, Consumer Confidence, Consumer Spending, Economic Growth, Personal Finance

Homeowners' spending on renovations falls to 6-year low

6/5/2019 | Posted in Home Owners by Jessi Sandhu

Canadian homeowners continue to cut back on home renovation spending in 2019: CIBC Poll ... More

Tags: Canada, Consumer Spending, Home Owners, Home Renovation

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

Tags: Bankruptcy, Consumer Confidence, Consumer Spending, Finance, Household Debt, Interest Rates, NonMortgage Debt, Personal Finance

High debt levels, rising interest rates among challenges for 2019

12/19/2018 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Canada’s economy will slow down in 2019 with consumer spending impacted by weaker employment, cooling house prices, high levels of debt, and rising interest rates. ... More

Tags: Canada, Consumer Spending, Economic Growth, Household Debt, Interest Rates

Bank Of Canada Interest Rate Hikes Will Cost Canadian Households $2,500 A Year

10/30/2018 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Consumer spending is expected to slow as Canadians spend more on the interest on their debt. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Consumer Spending, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages