2/6/2024 | Posted in Financial Health by Anabela Serra
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Further analysis of the latest Canadian insolvency stats reveal some revealing elements that typically connect those whose finances have got too much for them.

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There's a common theme among Canadians overwhelmed by debt

  9/4/2023 | Posted in Financial Health by Anabela Serra
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Higher living costs are pushing more and more Canadians into debt, according to a new report.

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Household debt levels set new record high in Q2

  6/20/2023 | Posted in Financial Health by Anabela Serra
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Equifax Canada says new data suggests a significant shift in credit usage among businesses in the first quarter of 2023.

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Businesses' changing credit usage a worrying trend: Equifax

  6/15/2023 | Posted in Financial Health by Anabela Serra
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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

Canadians' mortgage borrowing hits lowest level since 2003

  6/1/2023 | Posted in Financial Health by Anabela Serra
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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.

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Canadian consumer debt hits all-time high, reaching $2.32 trillion in Q1 2023: TransUnion

  5/25/2023 | Posted in Financial Health by Anabela Serra
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The federal housing agency has revealed the latest industry trends

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Canada's residential mortgage debt now $2.08trn, says CMHC

  3/27/2020 | Posted in Financial Health by Anabela Serra
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The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms.

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Millions of Canadians already missing payments due to COVID-19

  1/28/2020 | Posted in Financial Health by Anabela Serra
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Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More

Canadian reverse mortgage debt reaches nearly $4 billion

  12/16/2019 | Posted in Financial Health by Anabela Serra
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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.

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Canadian Household Borrowing Jumps By 31%, StatCan Says

  9/14/2019 | Posted in Financial Health by Anabela Serra
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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.

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Stats Can releases Q2 household debt data

  8/2/2019 | Posted in Financial Health by Anabela Serra
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The average Canadian household paid nearly $40,000 in taxes last year, more than the combined cost of clothing, food and shelter, according to a new report.

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Average Canadian household spent more on taxes than living costs in 2018, report finds

  6/11/2019 | Posted in Financial Health by Anabela Serra
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A warning has been issued regarding investment schemes that promise tax write-offs by investing in real estate through limited partnerships.

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CRA issues warning about real estate investment schemes

  5/23/2019 | Posted in Financial Health by Anabela Serra
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Canadian households continued to pile up debt in the fourth quarter of 2018 according to a new report from CMHC.

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Household debt at a record high, senior mortgages increase

  5/23/2019 | Posted in Financial Health by Anabela Serra
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The Canadian credit market has grown but it appears that consumers are generally managing their debt well.

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Delinquency rates hold steady even as credit market grows

  5/14/2019 | Posted in Financial Health by Anabela Serra
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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

Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis

  4/22/2019 | Posted in Financial Health by Anabela Serra
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Sign of deteriorating financial stability for many people in the country.

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48% of Canadians on brink of insolvency: Survey

  1/22/2019 | Posted in Financial Health by Anabela Serra
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An increasing number of Canadians say they are concerned about their debts and are edging towards insolvency.

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More Canadians say they are at risk of insolvency

  1/9/2019 | Posted in Financial Health by Anabela Serra
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It's a worrying sign for an economy that has relied so heavily on consumer spending and the housing market to drive growth.

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More people are going broke in Canada as interest rates rise

  12/6/2018 | Posted in Financial Health by Anabela Serra
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The TFSA contribution limit for 2019 is $6,000, up from $5,500 in 2018.

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TFSA Limit Rises to $6,000 for 2019

  9/18/2018 | Posted in Financial Health by Anabela Serra
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Data showing that interest rates are rising faster than income provide a wake-up call to Canadian consumers who are taking on unsustainable amounts of debt.

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Debt continues surging

  8/16/2018 | Posted in Financial Health by Anabela Serra
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Despite rising mortgage costs, rents, and grocery bills, these were not the biggest drain on the average Canadian household income last year.

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Canadians' tax bills outpaced housing, food in 2017

  5/13/2018 | Posted in Financial Health by Anabela Serra
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Members of Generation X (aged 37 to 52) are finding it hard to save, and the tighter timeline is causing them stress, a Franklin Templeton report finds.

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Generation X is 'stretched beyond their financial limits' and struggling to save for retirement

  5/2/2018 | Posted in Financial Health by Anabela Serra
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Bank of Canada governor says heavy debt load poses risk to the economy, but he is confident it can be managed.

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Poloz says Canadian household debt of $2T demands cautious approach on rate hikes

  4/17/2018 | Posted in Financial Health by Anabela Serra
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Upward trend in rates would negatively impact Canadians' ability to service their debts.

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Higher rates putting greater pressure on indebted Canadians

  3/12/2018 | Posted in Financial Health by Anabela Serra
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Canadians' collective household debt has climbed to $1.8 trillion as Bank of International Settlements sounds an early warning that the country's banking system is at ... More

Canadian household debt compromising banking system

  2/28/2018 | Posted in Financial Health by Anabela Serra
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Evidence of mortgage fraud amid surging home prices and household debt has prompted S&P Global Ratings to lower a key risk metric for Canadian banks.

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Amid fraud allegations, S&P lowers Canadian banks' risk metric

  1/10/2018 | Posted in Financial Health by Anabela Serra
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The amount Canadians owe relative to their income hit a new high in the third quarter of 2017, household credit market debt as a proportion of household disposable income ... More

Canada debt-to-household-income ratio grows to 171% - StatsCan

  12/8/2017 | Posted in Financial Health by Anabela Serra
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Canadian families increased their net worth by 14.7% in the four years from 2012-2016 according to new data from Statistics Canada.

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Home values boost Canadian family net worth

  10/24/2017 | Posted in Financial Health by Anabela Serra
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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

Canadians already feeling mounting pressure from higher interest rates

  9/24/2017 | Posted in Financial Health by Anabela Serra
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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.

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1 million Canadians would struggle with interest rate rise
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