In Q1 2024, MNP's Consumer Debt Index rebounded in Canada, but 41% of households remain concerned about debt due to mortgage renewals and living cost increases.
Insolvency firm MNP Ltd. reports that some Canadians feel more optimistic about their debt due to potential interest rate cuts. Its Consumer Debt Index metric rebounded after 12 months of low scores in Q1 2024. Despite this, 41% of Canadian households are still concerned about their current debt level, with MNP president Grant Bazian stating that, while things are not as bad as they were, Canadians still feel the squeeze due to mortgage renewals and rising living costs.
April 08, 2024
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