Canadian homeowners are back to their borrowing binge, and paying more for it. Bank of Canada (BoC) data shows variable mortgage rates climbed into September. New variable rate mortgage borrowers are paying the highest average interest rate in at least half a decade. Variable Rate Mortgages Generally in Canada, a variable rate mortgage sees the […]
Canadian businesses are borrowing less cash, and that could be a sign of things to come. Bank of Canada (BoC) numbers show business credit outstanding hit a new record in November. Despite the record high, growth continues to come in lower and lower. This is often a sign that businesses are seeing fewer growth opportunities. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Residential Investment As A Percent Of GDP Is Dropping, But Still Elevated Canadians are still pumping in a massive amount of cash into real estate investment. Residential investment reached $46.04 billion in Q3 2019, up 3.45% from a year before. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Credit Card Debt Tops $79 Billion, Interest Rates Hit A Multi-Year High Canadians are racking up quite the bill on their high interest rate credit cards. The outstanding balance of credit card debt reached $79.17 billion in September, up 4.07% […]
More Canadian consumers are carrying a balance on their credit cards these days. Bank of Canada (BoC) numbers show credit card debt hit a new high in September. The increase in iva debt, is also accompanying a rise in the average, already high, interest rates paid. Canadians Now Owe Over $79 Billion On Credit Cards […]
Canada’s sky high debt is meeting with higher than expected inflation, and it’s going to be a problem. Statistics Canada (Stat Can) data shows the median consumer price index (CPI-Median) rising in November. The measure of core inflation is now at the highest level in over a decade. By itself, this isn’t much of an […]
Canadian households are racking up a lot of debt, but it’s the interest that should be in focus. Statistics Canada (Stat Can) data shows a new record amount of interest was paid in Q3 2019. The mountain of interest paid every quarter is rising, and almost half of it is on consumer loans. When this […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadians Are Back To Spending A Record Amount Of Income Servicing Debt Canadian households are back to spending a record amount of their income on debt. The household debt service ratio (DSR) reached 14.96% in Q3 2019, up 1.70% from last […]
Canadian households are back to devoting a record amount of income to support their debt habit. Statistics Canada (Stat Can) data shows the debt service ratio (DSR) reached a new high in Q3 2019. In the past 30 years, Canadians have never devoted this much income towards keeping debt in good standing. Even worse, virtually […]
Canadian regulators are asking banks to set aside a little extra cash for a rainy day. Okay, a lot more cash for a downpour. Office of the Superintendent of Financial Institutions (OSFI) completed their bi-annual domestic stability buffer review. The regulator sees systemic risks, those that can cause instability to the financial system, remain elevated. […]
