MNP Debt Blog

With the Bank of Canada holding interest rates at record lows of just 0.5 per cent, many British Columbians are on a credit spending binge, using home equity as a means for taking on more debt.

​Despite the fact that the Canadian economy continues to struggle, low interest rates have encouraged many Canadians to take on more debt.

With the Bank of Canada holding interest rates steady at 0.5 per cent, Canadians are on a credit spending binge despite a continued slump in the national economy.

Despite the fact that the Canadian economy continues to struggle and unemployment takes its toll on several provinces, low interest rates have encouraged many Manitobans to take on more debt – putting thousands of households at risk should rates increase....

The numbers are in – and Canadians are on a credit spending binge.

The latest MNP Consumer Debt Sentiment Survey shows that a lack of financial literacy skills may be intensifying Saskatchewan residents’ consumer debt binge.

The latest MNP Consumer Debt Sentiment Survey shows that a lack of financial literacy skills may be intensifying Ontarians’ consumer debt binge.

The latest MNP Consumer Debt Sentiment Survey shows that a lack of financial literacy skills may be intensifying Manitoba residents’ consumer debt binge.

The latest MNP Consumer Debt Sentiment Survey shows that a lack of financial literacy skills may be intensifying Atlantic Canadians’ consumer debt binge.

The latest MNP Consumer Debt Sentiment Survey shows that a lack of financial literacy skills may be intensifying British Columbians’ consumer debt binge.