Category Archives: Economy

Bank of Canada increases target rate by 0.25%

Bank of Canada increased overnight target rate by 0.25% to 1.75% on October 24, 2018. Prime rates at the banks expected to increase by 0.25% to 3.95%. It will affect variable rate mortgages and lines of credit. The global economic outlook remains solid. The US economy is especially robust and is expected to moderate over […]

28% of Canadians fear bankruptcy

Twenty-eight per cent of respondents to a new survey, which was conducted on behalf of MNP from June 15 to June 19, said another rate increase will hurdle them toward bankruptcy, while 42 per cent say if rates rise much more they’d fear for their financial well-being. While both readings were down modestly from the […]

Canadian delinquencies will likely rise this year says Equifax

Canadian delinquency rates, which have been declining since the last recession, will probably reverse and begin to climb by the end of 2018 as the central bank presses ahead with interest rate increases, according to the country’s largest credit reporting firm. Regina Malina, senior director of analytics at Equifax Canada, predicts late payments on the […]

Millennials are feeling higher rates in their wallets

More than half of Canadians under 35 years old said they are spending less because of recent interest rate increases, according to a survey by Nanos Research. Some 30 per cent of respondents in that bracket report higher rates are having a negative impact on their personal spending, with another 23 per cent saying the […]

How Big Is the Problem? Canada’s Economy and Household Debt

For most Canadians debt is a fact of life, at least at some point. Borrowing can help someone get a higher education, or buy a new car, or purchase a home. Simply put, debt is a tool that allows people to smooth out their spending throughout their life. The amount of debt held by Canadian […]