MNP Consumer Debt Index: October 2018 Results Summary

2019-01-21   minute read

MNP Consumer Debt Index

Fear of rate hikes continues to intensify among Canadians.

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.

Debt Index Results October 2018

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