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household debt News and Articles | My Blog

Canadians already feeling mounting pressure from higher interest rates

10/24/2017 | Posted in Financial Health by Michael Antczak

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According to the results of a new poll conducted by a leading insolvency firm, fully one-third of Canadians indicated that they are already feeling the pinch of increasing ... More


1 million Canadians would struggle with interest rate rise

9/24/2017 | Posted in Financial Health by Michael Antczak

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Up to a million Canadians would struggle to cope with a 1 per cent rise in interest rates with 700,000 at risk from even a 0.25 per cent rise.

... More


Canadian borrowing grows at its fastest pace since 2010: BoC

9/22/2017 | Posted in Financial Health by Michael Antczak

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Canadians’ appetite for borrowing does not appear to be waning any time soon, if the latest figures from the Bank of Canada are any indication.

... More


Canadian debt-to-disposable income load rises in Q2

9/19/2017 | Posted in Financial Health by Michael Antczak

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In its latest data release, Statistics Canada announced that the amount Canadians owed compared with their disposable income climbed higher in the second quarter.

... More


Bank of Canada Rate Increase - Consumer Impact

9/12/2017 | Posted in Financial Health by Michael Antczak

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Canadian consumers can expect to feel some financial effects following the Bank of Canada's decision to raise the key interest rate.

... More


Ontarians are piling up non-mortgage debt

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

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Debt levels in Ontario are outpacing the other provinces while those in Western Canada are declining – and it’s not just home loans.

... More


Odds of a rate hike just went up as Canada's growth wows economists

9/1/2017 | Posted in Mortgage Interest Rates by Michael Antczak

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The economy is growing at the fastest pace in 15 years and that has some analysts changing their calls for a Bank of Canada hike from October to next week.

... More


Record household debt to add pressure to credit cards in next downturn: Moodys

8/23/2017 | Posted in Financial Health by Michael Antczak

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Unprecedented household debt levels will give Canadians a rude awakening on their unpaid credit card bills if another economic downturn materializes in the coming years, ... More


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.

... More


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.

... More


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.

... More


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.

... More


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.

... More


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.

... More


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.

... More


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.

... More


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


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