MNP Consumer Debt Index


Fear of rate hikes continues to intensify among Canadians

Index Tracking

​​​According to a recent Ipsos poll conducted by MNP LTD., Canadians continue to fear increasing financial turbulence as the prospect of another interest rate hike looms. The most recent MNP Consumer Debt Index indicates debt anxiety has intensified over recent months, as one in three people across the country worry rising interest rates could move them towards bankruptcy – up six percent since June.

More than half of Canadians (52%, up 3%) are concerned about whether they will be able to afford their debts as rates climb. And, with a seven percent jump, the number of people who say they're feeling the effects of previous rate increases is now more than two in five (45%) – while the same number (45%) admit future increases could place them in financial trouble.

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Details behind MNP’s Consumer Debt Index, along with media coverage and our provincial and national news releases can be found below.

To view data from previous releases of the MNP Consumer Debt Index, visit our Historical Data page.

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Debt Index Results October 2018

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Debt Index Results July 2018


Debt Index Results May 2018


Debt Index Results April 2018


Debt Index Results January 2018


Debt Index Results November 2017


Debt Index Results October 2017


Survey Results August 2017


Survey Results July 2017


Survey Results May 2017


Survey Results April 2017


Survey Results September 2016

 

About the MNP Consumer Debt Index

The latest Index data was compiled by Ipsos on behalf of MNP LTD between September 10 and September 17, 2018. For this survey, a sample of 2,003 Canadians from the Ipsos I-Say panel was interviewed online. The precision of online polls is measured using a credibility interval. In this case, the results are accurate to within +/- 2.5 percentage points, 19 times out of 20, of what the results would have been had all Canadian adults been polled. Credibility intervals are wider among subsets of the population. This represents the sixth wave of the MNP Consumer Debt Index.

 


 

About MNP Debt

MNP LTD, a division of MNP LLP, is one of the largest personal insolvency practices in Canada. For more than 50 years, our experienced team of Licensed Insolvency Trustees and advisors have been working collaboratively with individuals to help them recover from times of financial distress and regain control of their finances. With more than 200 Canadian offices from coast-to-coast, MNP helps thousands of Canadians each year who are struggling with an overwhelming amount of debt.

Grant Bazian is a Licenced Insolvency Trustees, President of MNP Ltd. To learn more about how MNP Debt can help you, contact Grant at 778.374.2108 or [email protected]


Our team of Licensed Insolvency Trustees will help you explore the debt relief options available to you and together we will find the solution that best fits your situation. Set up your FREE, no obligation consultation today.

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