MNP Debt Blog

More than half of Atlantic Canadians (54%) say they are concerned about their current debt level according to the latest MNP Consumer Debt Index.

Two-thirds of Manitoba and Saskatchewan residents (65%, +5 pts) say they desperately need interest rates to go down following two consecutive interest rate pauses, according to the latest 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.

Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.

Two-thirds of British Columbians (67%, +2 pts) say they desperately need interest rates to go down despite two consecutive interest rate pauses, according to the latest MNP Consumer Debt Index.

Two in five Ontarians (43%) report they are $200 or less away from financial insolvency each month, increasing five points this quarter, according to the latest MNP Consumer Debt Index.

Two-thirds of Saskatchewan and Manitoba residents (65%, +5 pts) say they desperately need interest rates to go down following two consecutive interest rate pauses, according to the latest 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.

Eight times a year, the Bank of Canada will make an announcement on the key interest rate, and if projections are correct, we are going to see interest rates rise. You could be thinking, what does that mean, how will it affect me, what can I do?

With rates still elevated, Canadians renewing mortgages face tough choices. Here’s how to prepare.