Canadian consumers are throwing up a warning sign, hidden in the numbers. Bank of Canada (BoC) data shows household debt growth accelerated in October. The growth drove total household debt to a new all-time high for the balance. Diving deeper into the numbers, only mortgages are seeing accelerated growth. Consumer credit growth, often seen as […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Households And Businesses Are Going Broke Faster Than Last Year Insolvencies in Canada are seeing a big increase these days. There were 13,512 insolvency filings in October, up 11% from a month before. The monthly number is up 13% when […]
Having trouble keeping up with your bills? So are a lot of people in Greater Vancouver these days. Office of the Superintendent of Bankruptcy Canada (OSB) filings show more people are becoming insolvent in Q3 2019. Greater Vancouver has seen a trend of growth for insolvencies over the past year, but the most recent quarter […]
Greater Toronto households are starting to show a few cracks, after a big debt binge. Office of the Superintendent of Bankruptcy Canada (OSB) filings show insolvencies jumped in Q3 2019. The Greater Toronto region isn’t just showing a large climb for insolvencies. It’s been accelerating recently as well. Insolvencies Vs. Bankruptcies Insolvencies come in two […]
B-20 what? Never heard of him. Canadians are in a rush to take out mortgage credit once again. Bank of Canada (BoC) data shows a major jump in borrowing. The increase is some of the highest growth for mortgage debt, and is primed to explode even higher. Canadian Mortgage Debt Grows At The Fastest Rate […]
Canadians have been on a debt binge, and some cracks are starting to appear. The Office of the Superintendent of Bankruptcy Canada (OSB) saw an increased number of filings in October. Insolvency filings have been moving higher for the past year, especially in the consumer segment. Canadians Filed Over 139,000 Insolvencies Canadian insolvencies are rising […]
Canada is a country of movers, but apparently not everyone wants to move. Statistics Canada (Stat Can) data shows hundreds of thousands of households were forced to move in 2018. Canadian households forced to move were largely due to evictions and foreclosures. Forced To Move, a.k.a. Evictions and Foreclosures Today we’re looking at the number […]
Canadian seniors are picking up the pace they extract equity from their homes. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached an all-time high in September. The all-time high comes with a mild acceleration to an already very large growth rate. What Is A Reverse Mortgage? Reverse mortgages are […]
Canadians are slowing the pace at which they use their homes as an ATM. Office of the Superintendent of Financial Institutions (OSFI) show loans secured by residential real estate reached a new all-time high in September. The new high came with some of the lowest 12-month growth Canadians have seen in a long time. Loans […]
Cash strapped, house rich Boomers (and beyond!) are cashing in on their housing windfalls. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in August. The pace of growth is finally leveling out, but it’s still one of the fastest growing segments of debt. Reverse Mortgage Reverse […]
