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Household Debt News and Articles | My Blog

Governments "hypocritical" over household debt says Fraser Institute

7/19/2017 | Posted in Financial Health by Michael Antczak

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The high levels of Canadian household debt should not be viewed in isolation a new report from the Fraser Institute says.

... More


Household debt could hit unprecedented levels in 4 years

6/23/2017 | Posted in Financial Health by Michael Antczak

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Canadian household debt is rising and is set to keep rising despite expected increases in interest rates; and that worries the Parliamentary Budget Officer.

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Why consumers should be wary of using the wildly popular home equity lines of credit as ATMs

6/9/2017 | Posted in Financial Health by Michael Antczak

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A federal agency is warning consumers addicted to home equity lines of credit — a product increasingly driving debt — could find themselves at increased risk ... More


Income volatility for 10 million Canadians: TD Bank Report

5/18/2017 | Posted in Financial Health by Michael Antczak

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Around 10 million Canadians say they have experienced moderate to high levels of income volatility in the past year.

... More


High house prices prompt Moody's downgrade for Canadian banks

5/11/2017 | Posted in Financial Health by Michael Antczak

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Moody’s has downgraded its ratings for six Canadian banks due to their exposure to risk from high house prices and household debt.

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Canadian household debt hits another record in fourth quarter

3/15/2017 | Posted in Financial Health by Michael Antczak

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The amount Canadians owe compared with how much they earn hit another record high last year. Statistics Canada said the amount of household ... More


The classic RRSP season dilemma: Contribute or pay down your mortgage

1/27/2017 | Posted in Financial Health by Michael Antczak

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The type of person you are will inform the math that goes into your decision.

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Paying off mortgage sooner among top financial goals

1/25/2017 | Posted in Financial Health by Michael Antczak

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More than a third of Canadians polled by CIBC said that paying off their mortgage sooner was a key financial goal.

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Canadians keep digging themselves deeper into debt

12/14/2016 | Posted in Financial Health by Michael Antczak

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Canadian household debt hit a record high in the third quarter, as the country’s love affair with low interest rates fuelled another round of heavy borrowing.

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Mississauga residents brace for tax bill

12/2/2016 | Posted in Community by Michael Antczak

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This week the City of Mississauga began its budget deliberations in council chambers. Staff presented a proposed tax increase of 5.9 per cent on the city’s portion (34 ... More


Higher down payments could be on horizon: CMHC

11/26/2016 | Posted in Home Buyers by Michael Antczak

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The head of Canada Mortgage and Housing Corp. has opened the door to the possibility of increasing the minimum down payment needed to buy a house, though a change is not ... More


38 per cent of Canadians with a mortgage have financial difficulty

11/25/2016 | Posted in Financial Health by Michael Antczak

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A new report from Manulife Bank reveals that many Canadians are living paycheque-to-paycheque including a large percentage of those with a mortgage.

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Canadians continue to pile up non-mortgage debt: report

11/16/2016 | Posted in Financial Health by Michael Antczak

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Canadians continued to pile up non-mortgage debt compared with a year ago but delinquency rates remained low, according to credit monitoring agency TransUnion.

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Canada's record household debt is threatening its financial stability

10/26/2016 | Posted in Financial Health by Michael Antczak

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Canada’s debt, swelled by a decade-long housing boom to almost triple the size of its economy, is drawing increasing concern from an international banking community that ... More


BoC welcomes mortgage rules, predicts slowdown in sales

10/20/2016 | Posted in Mortgages and Real Estate by Michael Antczak

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The governor of the Bank of Canada spoke of the risk to the economy from the high level of household debts and the rising cost of homes when he announced a hold-steady on ... More


Canadian key household debt ratio hits record high

9/15/2016 | Posted in Home Owners by Michael Antczak

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Canadian household debt ratios hit a record high over the spring, according to new figures released Thursday by Statistics Canada.

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Lender warns over rising household debt

8/25/2016 | Posted in Home Owners by Michael Antczak

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Canadians are borrowing more as low interest rates help drive a thirst for credit. Non-mortgage loans increased in the second quarter of 2016 according to RBC, especially auto ... More


Household debt eases but mortgages remain strong

6/15/2016 | Posted in Home Owners by Michael Antczak

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Canadians owe $1.65 for each dollar of disposable income according to Statistics Canada with an increase in debt levels driven by mortgage borrowing.

... More


Mortgage debt behind rise in household debt

3/15/2016 | Posted in Home Owners by Michael Antczak

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Canadian’s household debt continued its upward trajectory in the fourth quarter of 2015. The latest data from Statistics Canada shows that average debt rose by 1.5 per ... More


Bank of Canada: system could survive major household debt shock

2/24/2016 | Posted in Real Estate Market by Michael Antczak

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While the vulnerabilities associated with elevated household debt have increased in recent years, the Canadian financial system remains resilient and could withstand a major ... More


Canadian household debt level rises, hits 163.7% of disposable income: Statcan

12/14/2015 | Posted in Financial Health by Michael Antczak

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Canadian household debt hit a new record in the third quarter, as borrowing rose faster than income. Statistics Canada said Monday the ... More


Canada's consumers owe $1.8 trillion as mortgages soar

11/6/2015 | Posted in Mortgage News by Michael Antczak

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New figures from one of Canada’s largest banks and mortgage lenders shows the continuing growth of household debt. RBC’s report reveals that total consumer debt is ... More


Mortgage borrowing drives escalating Canadian debt: CIBC

9/17/2015 | Posted in Mortgage News by Michael Antczak

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Canadian households are adding debt at an increasing pace and it’s being driven by mortgage which account for 80 per cent of the debt. CIBC says that it is not housing ... More


Canadian seniors racking up debt to fund bigger homes, glitzy lifestyles

9/9/2015 | Posted in Real Estate Market by Michael Antczak

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Canadian seniors are getting a lot more comfortable with debt and a growing number are using it to finance their lifestyle, including home purchases, according to an exclusive ... More


Canadian household debt increases but for good things

8/13/2015 | Posted in Home Owners by Michael Antczak

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Canadian households are carrying more debt on average than they were last year but it is generally as the result of “good” spending. A report from mortgage lender ... More


Ottawa eyes tougher new mortgage rules, larger down payments, to curb Canada's red hot housing market

7/17/2015 | Posted in Mortgage News by Michael Antczak

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The federal government may be ready to take direct aim at Canada’s red-hot housing market, and is actively consulting on a move to increase the minimum down payment ... More


We're spending more on renovations: Altus Group

7/16/2015 | Posted in Home Owners by Michael Antczak

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Canada’s ageing housing stock together with influence from TV shows has led to more spending on renovations. Figures from the Altus Group show that Canadian households ... More


A third of Canadians would struggle if mortgage rate grew by only 1%, survey finds

6/16/2015 | Posted in Home Owners by Michael Antczak

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A survey by Manulife Bank of Canada says nearly half of Canadian homeowners are taking steps to whittle down their mortgage debt, but many would be in trouble if their monthly ... More


CIBC report warns of increasing insolvencies

6/12/2015 | Posted in Financial Health by Michael Antczak

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There has been an uptick in the number of Canadians becoming insolvent according to a report from CIBC. The mortgage lender says that although bankruptcies are down, by 4.7 per ... More


Bank of Canada says risk to financial stability is slightly higher, but system is more resilient

6/11/2015 | Posted in Real Estate News by Michael Antczak

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The overall risk to financial stability in Canada has risen in the face of lower oil prices, but the resilience of the system continues to improve, the Bank of Canada said ... More


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