MNP Debt Blog

With the Bank of Canada holding interest rates at record lows, Canadians have felt confident utilizing credit freely, despite a struggling national economy.

Pair soaring debt with a general lack of financial literacy throughout Canada and we’ve got ourselves a perfect storm.

Given today's struggling economy, the fact that many households are grappling with the harsh realities of unemployment due to a stagnant energy sector and numerous other factors, an increase in interest rates, could push more than 30 per cent of respondents...

Okanagan Edge recently covered an MNP survey surrounding financial literacy and consumer spending throughout B.C.

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.