Household debt levels are a hot topic this week, as new numbers reveal they are higher than ever across the nation – a key concern for our central bank, and the fuel behind Canada’s too-hot-to-touch housing markets. And it’s not just mortgages – a recent study finds credit card balances are on the rise, with the average Canadian owing more than $3k on their plastic. Read on for the full story.
Canadian Debt-to-Income Ratio Is Now 165%
Household debt levels are rising across the nation: the average Canadian now owes $1.65 for every dollar they earn, according to Statistics Canada, collectively owing a whopping $1.923 trillion – and $1.262 trillion of that is from mortgages. What does this mean for Canada’s recovering economy – and are you at risk as a consumer?
Read Penelope’s Blog | Canadian Debt-to-Income Ratio Is Now165%
National Credit Card Debt Hits 3-Year High
Is your credit card balance below the national average? A recent TransUnion report finds the average Canadian has racked up $3,610 on their plastic. Increased use during the 2015 holiday season is partly to blame, and it’s not expected the trend will reverse in 2016. Read on for the full story.
Read Gordon’s Blog | National Credit Card Debt Hits 3-Year High
Report Finds CMHC Cracking Down on Foreign Investment in Canada
A recent report finds the CMHC has taken efforts to further crack down on foreign investment in Canada. Will this provide clarity for the nation’s high-demand housing market? Read on for our breakdown.
Read Rubina’s Blog | Report Finds CMHC Cracking Down on Foreign Investment in Canada
Economy: Low Loonie Clips Snowbirds’ Spending Power
The low loonie has put a cramp in snowbirds’ style, limiting their spending power while dwelling south of the border. How can Canadians still make the most of their warm weather getaways? Read on for the full story.
Read Sean’s Blog | Low Loonie Clips Snowbirds’ Spending Power
Insurance: Do You Have Enough March Break Travel Insurance?
Taking a trip? Don’t leave home without March Break travel insurance. Read to learn more about your must-have coverage, plus a few add-ons for a smoother travel experience.
Read Barry’s Blog | Do You Have Enough March Break Travel Insurance?