MNP Debt Blog

British Columbians’ anxiety about their debt situation is building amid rising interest rates, persistent inflation, and heightened affordability concerns.

Ontarians’ anxiety about their debt situation is building amid rising interest rates, persistent inflation, and heightened affordability concerns.

It’s not something we’ve heard a lot of lately… but there is some financial optimism many Canadians are experiencing. It’s the financial “upside” to the pandemic thanks to relief measures and reduced spending.

The quarterly MNP Consumer Debt Index has taken a drastic plunge to 77 points, dropping a record 15 points from last quarter and marking an all-time low since the Index was created more than five years ago.

Amid heightened affordability concerns, the proportion of Atlantic Canadians that are worried about making debt payments jumped nine points compared to last quarter.

Personal finances continue to be a major source of stress for Quebecers, and many anticipate that the situation will continue to deteriorate, according to the latest MNP Consumer Debt Index conducted quarterly by Ipsos.

Amid heightened affordability concerns, the proportion of Atlantic Canadians that are worried about making debt payments jumped nine points compared to last quarter.

From near zero to the highest interest rates in more than two decades, the latest MNP Consumer Debt Index finds British Columbians are concerned about what further rate hikes could mean for their finances.

Amid heightened affordability concerns, the proportion of Atlantic Canadians that are worried about making debt payments jumped nine points compared to last quarter.

As interest rates move upwards and the cost of living remains a challenge for households, the proportion of Canadians who report being insolvent has reached an all-time high, according to the latest MNP Consumer Debt Index.