As interest rates continue to sit at record-lows, Canadians have continued to spend, relying on credit when funds are in a pinch. In fact, a new poll conducted by Ipsos on behalf of MNP Debt shows that nearly 30 per cent of respondents admit they have taken on more debt with fledgling interest rates. As we prepare for the Bank of Canada’s upcoming announcement regarding the state of interest rates however, the question remains – what happens if we see a hike? MNP Debt’s President, Grant Bazian warns that if we were to see an increase in interest rates, debt could become unmanageable with 30 per cent of respondents to the survey stating that rising rates could push them close to bankruptcy. An original interview with Patty Lovett-Reid discussing the Ispos survey conducted on behalf of MNP was postedonline with BNN on April 11,2017. Grant Bazian, CIRP, LIT is President of MNP Ltd. based out of our Vancouver location. To learn more about how MNP Debt can help, contact our local office at 604.685.8408.
2025-07-14
MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
