Since the pandemic began, Canadian households have never been better. They’re saving more, they’re defaulting less, and some have even begun to poop rainbows. At least that’s what the narrative has been. Non-mortgage loan (A2) filings with the Office of the Superintendent of Financial Institutions (OSFI) shows that may not be the case. Expected credit […]
Canadians aren’t defaulting, but that’s the only thing healthy about household credit. TransUnion (TU) released their Credit Industry Indicator (CII) this month. The index gauges the overall health of consumer credit using various factors. Despite a booming mortgage market, credit health is still far from pre-pandemic levels. It only made minor improvements since the biggest […]
Canadians have no problem borrowing money, they just won’t do it for anything but a house. Bank of Canada (BoC) data shows household credit reached a new record high in April. The rate of growth was the fastest seen in nearly half a decade. Canadian housing mania has few people spending on anything but a […]
