2 w. ago
Ontario sees another enormous jump in people not paying housing and other bills
As if we needed more facts and figures to remind us how bad Canada's economy is at present, a new report has offered a glimpse into just how many people nationwide have been unable to cover their major bills, with mortgage delinquency in particular at an all-time high.And, residents of Ontario are the worst culprits.The data, published by Equifax Canada this week, comes from the final months of 2024, a year in which consumer debt across the country grew by 4.6 per cent, to a total of an unthinkable $2.56 trillion.Though falling lending rates over the course of the year helped to relieve the debts of some, the credit company says that "financial pressures intensified" for many others, especially those with mortgages in our two most exorbitant provinces for property: Ontario and B.C.When looking at the fourth quarter of the year versus the same time in 2023, there was a shocking 90.2 per cent increase in the number of Ontarians who hadn't made a mortgage ...
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