We have been seeing a slowdown in Canada’s housing market, which can suggest that consumers have been more cautious with credit after racking up a record amount of household debt earlier in the year, notes Gerry McCaughey, chief executive officer of the Canadian Imperial Bank of Commerce (CIBC). McCaughey explained that he is confident that

Canadians are taking on too much debt; the consequences of this is serious for not only their own personal finances but for the Canadian economy as well. Economists and a leading global think-tank comes with the warning with fresh evidence in hand that low interest rates the past 2 years have caused households to borrow

The verdict is in; Canadians are spending too much too fast, living form paycheque to paycheque. The verdict on how poorly we manage our personal finances come from a set of recent studies, all of which examine how much Canadians spend and how little we all actually save. One report showed that 60% of Canadians

Consumer confidence has increased in Canada vastly compared to last year, however CIBC World Markets Inc.’s new Consumer Capability Index finds that weak consumer fundamentals and an interest rate hike will have Canadians starting to apply a halt on spending. In late 2008, we saw consumer confidence reach a 15 year low, as measured by

Royal Bank of Canada (RBC) is keeping a close eye on rising household debt levels in the country, but it believes that Canadian consumers are still in a more enviable position than the U.S. President and chief executive officer of RBC, Gord Nixon told an industry conference that the strength in the residential real estate

Canadians are taking advantage of record low interest rates to buy homes and have racked up unprecedented debt levels; however a new report from CIBC World Markets Inc. notes that we are not headed for a U.S. style meltdown. The report includes an in-depth look at the Canadians housing and mortgage market, sharing the Bank

A new report from Statistics Canada show that Canadians are deeper in debt than ever before, however economists have noted that record low interest rates means that debt loads are still manageable and will likely improve as the economy begins to recover from the recession. Household net worth, which is the value of families such