MNP Consumer Debt Index Rebounds Significantly (Up 8 Points) as Interest Rate Concerns Ease and Debt Perceptions Improve, Yet Repayment Anxiety Persists for Majority
A quarter say they are much better equipped to absorb an interest rate increase of one percentage point (25%, +3pts) or an extra $130 in interest payments (24%, +5pts).
- A quarter say they are much better equipped to absorb an interest rate increase of one percentage point (25%, +3pts) or an extra $130 in interest payments (24%, +5pts).
- Canadians are more confident about their current debt situation, expected debt situation, and ability to absorb interest rate increases.
- Those with poor personal debt ratings are significantly more concerned with the 'social squeeze' (75%), given their already precarious financial position.
- The latest MNP Consumer Debt Index aligns with the four-year mark since the onset of the COVID-19 pandemic.