debt Archives - Mortgage Rates & Mortgage Broker News in Canada

Véronique Lalonde, partner and licensed insolvency trustee at Montreal-based Raymond Chabot

If spiralling debt has you on the brink, a consumer proposal may be the right move

May 21, 2025 No Comments

Getting trapped in a perpetual cycle of debt with seemingly no way out is one of the most stressful situations life can throw at you. For anyone looking for a way forward, experts say a consumer proposal can break the chain without the need for a bankruptcy filing.

Paying down debt top financial priority for Canadians in 2025: CIBC poll

December 30, 2024 No Comments

CIBC says paying down debt is the top financial priority for Canadians heading into 2025.

More Canadians only making minimum payment on credit cards: TransUnion

May 28, 2024 No Comments

An increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household budgets.

Average mortgage loan rises in Q3 says Equifax

Average New Mortgage Size Surges 18% in Third Quarter: Equifax

December 1, 2021 No Comments

The average new mortgage being taken out by today’s borrowers surged to $360,000 as of the third quarter, Equifax reports.

using balance transfers to your advantage

Incorporate Balance Transfer Offers into Your Arsenal

October 19, 2020 No Comments

As mortgage professionals, we are sometimes asked to solve problems slightly outside the scope of our mandate. Naturally, we must take care not to position ourselves as tax experts, accountants or lawyers.

canadians desperate to pay off their debts

Canadians’ New Year’s Resolution: Pay Down that Debt

January 16, 2020 1 Comment

It’s that time of year again, when we vow to kick bad habits and set a healthier or more positive course for the new year

Debt on the Minds of Canadians

November 27, 2019 No Comments

Debt is hanging over the heads of a growing number of Canadians, with two in five saying they don’t expect to get out of debt

These Homeowners Need a Private Mortgage

November 13, 2019 1 Comment

Most of us don’t give much thought to private mortgages. We are vaguely aware they exist, but perhaps have the impression they are mortgage solutions

Most Canadian Homeowners Unprepared for Financial Shocks

May 25, 2017 No Comments

It’s common knowledge—or at least it should be by now—that Canadians are carrying worrying levels of debt. The latest reminder of how fragile the situation

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