Not Out of the Debt Woods Yet
By Gord Wiebe Mar 4, 2021 7:38 AM Equifax Canada says increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion. That was up 1.5 per cent from the previous quarter and up 4.1 per cent from Q4 2019. Despite the increase in total debt, the average consumer debt (excluding mortgages) dropped again this quarter to $23,043, which is a year-over-year decrease of 3.0 per cent and a decline of 0.8 per cent compared to the previous quarter. The drop in consumer debt is primarily due to credit card balance which ha...
Source: 98cool.ca