Jessi Sandhu - Your Brampton Real Estate Agent
Household Debt News and Articles | My Blog

There's a common theme among Canadians overwhelmed by debt

2/6/2024 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News Further analysis of the latest Canadian insolvency stats reveal some revealing elements that typically connect those whose finances have got too much for them. ... More


Under-35 households lead the way in reducing mortgage debt, StatCan reports

1/25/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgages-475.jpg - Real Estate News Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022. ... More


BoC set to leave rate unchanged in January, says RBC

1/19/2024 | Posted in Interest Rates by Jessi Sandhu

mortgage-cloud-44.jpg - Real Estate News The Bank of Canada is likely to leave its overnight rate unchanged in its first decision of 2024, according to new forward guidance by the Royal Bank of Canada. ... More


Household debt levels set new record high in Q2

9/4/2023 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News Higher living costs are pushing more and more Canadians into debt, according to a new report. ... More


Rising mortgage interest costs now biggest factor driving inflation - and they're not done yet

6/28/2023 | Posted in Canada Living by Jessi Sandhu

couple-managing-debt-449.jpg - Real Estate News Inflation cooled on a month-over-month basis in May, but one factor that has been unrelenting in driving the consumer price index higher is mortgage interest costs — and the ... More


Canadians' mortgage borrowing hits lowest level since 2003

6/15/2023 | Posted in Financial Health by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News 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


Canada's debt rises as rates cut into households' cash flow

6/14/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

property-value-108.jpg - Real Estate News Hawkish monetary policy and inflation posing headwinds for borrowers, latest figures suggest ... 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

debt-stress-frustration-98.jpg - Real Estate News 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

debt-payment-463.jpg - Real Estate News The federal housing agency has revealed the latest industry trends ... More


Canada braces for higher mortgage defaults

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

laptop-research-453.jpg - Real Estate News 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


Millions of Canadians already missing payments due to COVID-19

3/27/2020 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms. ... More


Big Six banks slash prime rates by half a point

3/17/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

big-6-banks-canada-317.jpg - Real Estate News The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More


Bank of Canada slashes policy rate to 0.75 per cent in surprise cut

3/13/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

bank-of-canada-84.jpg - Real Estate News The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the economic ... More


Changing the stress test may raise credit risk for banks says Fitch

2/27/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

housing-market-concept-image-262.jpg - Real Estate News The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More


Canadian reverse mortgage debt reaches nearly $4 billion

1/28/2020 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More


Canadians are cutting back on debt amid fears of recession

1/2/2020 | Posted in Canada Living by Jessi Sandhu

financial-markets-report-272.jpg - Real Estate News Most Canadians held back from increasing their debt burden in 2019 and 1 in 5 say debt repayment is their top financial priority for 2020. ... More


Canadian Household Borrowing Jumps By 31%, StatCan Says

12/16/2019 | Posted in Financial Health by Jessi Sandhu

worried-businessman-346.jpg - Real Estate News 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


Canadians' wealth reduced as real estate gains are erased

9/19/2019 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

property-value-108.jpg - Real Estate News The average Canadian household was worth less in 2018 than in the previous year. ... More


Stats Can releases Q2 household debt data

9/14/2019 | Posted in Financial Health by Jessi Sandhu

business-close-up-hand-269.jpg - Real Estate News 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


A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Jessi Sandhu

financial-markets-report-272.jpg - Real Estate News A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says. ... More


Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

bank-of-canada-84.jpg - Real Estate News The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists. ... More


OSFI increases domestic buffer to 2% amid household debt risk

6/6/2019 | Posted in GTA Real Estate by Jessi Sandhu

business-meeting-notes-105.jpg - Real Estate News Canada’s banks will have to set aside a larger share of their capital to protect against downturns in lending and other potential financial risks. ... More


Interest rate cut now unlikely say economists

5/27/2019 | Posted in Interest Rates by Jessi Sandhu

mortgage-rates---interest-rates-48.jpg - Real Estate News The Bank of Canada will make its May interest rate decision Wednesday but it’s unlikely there will be a change according to a panel of experts. ... More


Household debt at a record high, senior mortgages increase

5/23/2019 | Posted in Financial Health by Jessi Sandhu

home-piggy-bank-251.jpg - Real Estate News 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

calculator--analysis--reporting-128.jpg - Real Estate News 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

stressed-couple-244.jpg - Real Estate News 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


CMHC's Siddall Warns Homeownership 'Party' Coming to an End

5/11/2019 | Posted in Canadian Housing Market by Jessi Sandhu

cmhc-news-7.jpg - Real Estate News The head of the Canada Mortgage and Housing Corporation (CMHC) gave a candid assessment of the country’s housing market, saying the “party” of homeownership as a ... More


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