News

Insolvencies up again in Canada – August Stats

admin · November 1, 2016 ·

The latest numbers from the office of the Superintendent of Bankruptcy Canada shows a 7.3 percent increase in the total number of insolvencies in Canada in August 2016. Bankruptcies are up 6.8 percent and proposals increased by 7.9 percent.

Compared to last year, insolvencies are up 10.5 percent.

Other stats: For the 12 month period ending August 31, 2016, the total number of insolvencies increased by 3.9 percent compared with the 12-month period ending August 31, 2015.

You can read the summary and full report here.

Article warns household debt threatens financial stability

admin · October 25, 2016 ·

The Vancouver Sun has published another article about Canada’s high household debt and the risks it causes.

The article, by Maciej Onoszko of Bloomberg News is titled: Canada’s Record Household Debt is Threatening Its Financial Stability, Global Bankers Fear.

The article draws on a number of national and international experts. The main focus of the story:

Canada’s debt, swelled by a decade-long housing boom to almost triple the size of its economy, is drawing increasing concern from an international banking community that says it threatens growth and financial stability.

You can read the full article here.

Financial Post series on credit score

admin · October 3, 2016 ·

The Financial Post is running a sponsored series of articles under the “Young Money” banner. It’s an on-going series about what impacts your credit score.

The series includes information on what your credit score actually is, tips on keeping it healthy, and how the credit score increases or decreases.

Read the article here.

The first in this series of articles is here.

Big drop in insolvencies in Canada in July

admin · September 30, 2016 ·

The latest numbers from the office of the Superintendent of Bankruptcy Canada show big drops in bankruptcies and proposals in July of 2016.

Insolvencies in Canada decreased by 15.8 percent from the previous month. Bankruptcies decreased by 15.8 percent and proposals decreased by 15.9 percent.

Compared to last year, insolvencies are down 8.3 percent.

Other July stats: For the 12-month period ending July 31, 2016, the total number of insolvencies increased by 3.1 percent compared with the 12-month period ending July 31, 2015.

You can read the summary and full report here.

Canadian Household Debt Hits Record High

admin · September 15, 2016 ·

While national wealth has increased, Canadian households hold $1.68 in credit market debt for every dollar of disposable income.

That’s the latest from Statistics Canada in the “National balance sheet and financial flow accounts, second quarter 2016” released today.

According to the report:

Total household credit market debt (consumer credit, and mortgage and non-mortgage loans) reached $1,973 billion at the end of the second quarter. Consumer credit was $585.8 billion, while mortgage debt stood at $1,293 billion. The share of mortgage liabilities to total credit market debt was unchanged at 65.6%, ending an unbroken upward trend that began in the first quarter of 2010.

An increase in household credit market debt (+2.0%) outpaced weaker-than-normal growth in disposable income (+0.5%) in the second quarter. Consequently, the ratio of household credit market debt to disposable income (excluding pension entitlements) rose from 165.2% in the first quarter to 167.6% in the second quarter. In other words, households held $1.68 in credit market debt for every dollar of disposable income.

You can read the full report here.