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Canadian Household Credit Growth Barely Moves, Annual Growth Falls To 1983 Levels

Fresh off an epic credit binge, households in Canada are starting to shy away from more debt. Bank of Canada (BOC) numbers show household debt levels barely moved in February. Not only did debt barely move from the month before, but the annual pace of growth fell to levels not seen since 1983. Canadian Households […]

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Canadian Borrowing Rates Hit The Highest Level Since 2009… Then Collapse

Borrowing rates are sliding before the traditional busy season for Canadian real estate. Bank of Canada (BoC) numbers show the effective borrowing rate peaked in early March. Shortly after printing the highest number since the Great Recession, the rate dropped. The minor drop made headlines, but only really impacts people shopping in that window. The […]

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Canadian Households Are Just 0.01 Points From The Mother of All Debt Records

Canadian household finances took another hit last year. Statistics Canada (StatCan) numbers show the debt servicing ratio (DSR) is at a multi-year high as of Q4 2018. The amount of income spent maintaining debt is now at a level not seen since 2007. The volume of debt has effectively wiped out the household benefit of […]

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Canadian Household Debt Growth Has Never Fallen This Low Outside of Recession

Canadian real estate buyers aren’t the only ones being tight with the loans. Bank of Canada (BoC) numbers show household debt growth has fallen to the lowest level in more than 30 years. The decline in growth is so low, it’s something Canada hasn’t seen outside of a recession. Canadians Owe Over $2.15 Trillion In […]

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Canadian Borrowing Rates Are Up 32% From All-Time Lows Hit 2 Years Ago

Canadians still have access to cheap credit, but it’s disappearing fast. Bank of Canada (BoC) numbers show the cost of borrowing is rapidly increasing as of last week. Over the past two years, a typical household loan has seen servicing costs rise by nearly a third. Effective Borrowing Rates The effective borrowing rate is the […]

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Canada’s National Housing Agency Is Forecasting An 11% Drop In Buying Power

Canada’s national housing agency sees a much smaller mortgage in your future. Canada Mortgage and Housing Corporation (CMHC) forecast numbers included projections for mortgage rates. The high projection for the rates almost add a fifth to the cost of servicing a mortgage. If rates hit these projections, buyers would lose up to 11% of their […]

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Canadian Banks Raise Borrowing Rates To Highest Levels Since The Great Recession

Canadians are facing the most expensive credit in almost a decade. Bank of Canada (BoC) numbers show households are seeing the effective borrowing rate creep higher. The rate, which impacts how much consumers can borrow, is now at the highest levels since the Great Recession. Effective Borrowing Rate The effective borrowing rate is one way […]

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Uh Oh! Canadian Credit Growth Falls To Lowest Levels Since 199… Nope, 1983

Rising interest rates are already drying up credit for Canadian households. Bank of Canada (BoC) numbers show household credit hit another all-time high in August. More concerning is the rising balance is seeing a rapid decline in growth. Rising rates have sent the annual pace of growth to the lowest it’s been over 35 years. […]

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