Canada is pulling all of the measures to make sure households and businesses don’t go bust, but it’s just time for some. Office of the Superintendent of Bankruptcy (OSB) data shows insolvencies increased in Q3 from the previous quarter. The quarterly increase is somewhat surprising, considering the number of lender support programs. Canadian Insolvencies Rise […]
Bank of Canada: Mortgages In Arrears Expected To Triple, But It Could Be Worse
Canada’s mortgage apocalypse isn’t going to be fun, but it could have been a lot worse. The Bank of Canada (BoC) released its model on mortgages in arrears this week. Through a combination of monetary policy and bank generosity, mortgages in arrears are still expected to rise to record highs. However, without the policies implemented, […]
Canada’s Debt Relief Pauses Insolvencies, But Still Biggest Year Since 2010
Canadians are still getting crushed by debts, but that isn’t a priority right now. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a slower month in March. Despite the drop, this has more to do with the pandemic relief de-prioritizing the urgency of filings. Even with the drop, this is still the busiest […]
Canadian Households Are Deferring Almost $1 Billion In Debt Payments Per Month
Canadian households are asking banks if they can skip a few payments, and banks are (mostly) saying yes. Canadian Bankers Association (CBA) data shows hundreds of thousands of payments are being deferred. The number, as big as it is, represents select member banks – meaning there’s many more deferrals. Even just using this data, it […]
Greater Vancouver Insolvencies Make Double Digit Climb
Greater Vancouver is seeing insolvencies climb, not unlike the rest of Canada. Office of the Superintendent of Bankruptcy (OSB) filings show insolvencies increased in February. While the increase was in the double digits, the city managed a slower increase than the province as a whole. Greater Vancouver Insolvencies Rise Over 10% Greater Vancouver insolvencies are […]
Greater Toronto Insolvencies Rise Over 18%
Greater Toronto insolvencies are following the rest of the country towards multi-year highs. Office of the Superintendent of Bankruptcy (OSB) filings show the number of insolvencies increased in February. This is a general trend that has been occurring across the country. Greater Toronto insolvencies are growing at a faster rate than Ontario as a whole, […]
This Week’s Top Stories: Canadian Insolvencies Hit Recession Levels Before The Pandemic, And Unemployment Soars
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Loses Over A Million Jobs, And Participation Drops To 1983 Levels Canadian job losses are soaring, and a lot of people are permanently leaving the workforce. The unadjusted rate of unemployment came in at 8.4% in March, up 42.37% from […]
Canadian Insolvency Filings Approach 2010 Highs As Growth Accelerates
Canadian insolvency filings have been pushing to new highs recently. Office of the Superintendent of Bankruptcy Canada (OSB) data shows insolvencies rising quickly in February. Filings over the past year are now at the highest level since 2010, with growth accelerating… and this is before the pandemic was declared Canada Insolvency Filings Reach Highest Level […]
Canadian Insolvencies Rise To The Highest Level Since The Great Recession
Canadian households went from swimming in debt, to drowning in it last year. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a substantial climb for insolvencies in December. Every province in the country showed large growth, with half printing double digits. The swelling insolvencies led the national number of filings, to the highest […]
Ontario Takes The Lead, As Insolvencies Rise Across Canada
Canadian insolvencies made a big jump, and they might be accelerating. Office of the Superintendent of Bankruptcy Canada (OSB) data show total insolvencies made a double digit climb in October. The increase in filings is much faster than the already strong growth seen over the past year. Canadian Insolvencies Rise Over 13% In October Total […]