More than eight in 10 Canadians aren’t worried about their level of personal debt, finds a new CIBC poll.
As Canadians struggle to reduce their debt while also preparing for retirement, many homeowners expect to access their home equity to supplement their retirement income.
And how to manage the resulting volatility.
The average household debt in Canada has risen 6% in the past year to $76,140.
During the darkest days of the 2008/09 financial crisis, emerging market fixed income showed surprising resilience. From Poland to Mexico to South Korea, local-currency debt markets survived the storm relatively unscathed, buttressed by strong local institutions and sound policy decisions.
Canadians currently holding some form of debt expect to be debt-free by the age of 53, according to a poll.
Many countries have too much debt today—and debt levels are moving higher, said Dr. Lacey Hunt, executive vice-president of Hoisington Investment Management Company, at a recent CFA Society event.
The health of Canadian households improved in the fourth quarter of 2013, according to Statistics Canada.
Canadians have made a small dent in reducing their debt load.
The consumer debt load of Canadians rose to a record $1.42 trillion nationally at the end of 2013, according to a report from Equifax Canada.