Calgary and Edmonton residents carrying the most consumer debt in Canada: Equifax report
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The high cost of living and inflation is taking a toll on Canadians, but those living in Calgary and Edmonton are burdened by the most debt, a new report indicates.
The high cost of living and inflation is taking a toll on Canadians, but those living in Calgary and Edmonton are burdened by the most debt, a new report indicates.
Equifax Canada, in its latest Market Pulse Consumer Credit Trends and Insights report, found Calgarians had an average consumer debt load of $23,885 in the third quarter of 2023 while Edmontonians had slightly less at $23,719.
"Factors such as high cost of living, inflation, credit card payments and mortgage renewal worries are coming at consumers right now," said Rebecca Oakes, vice-president of advanced analytics at Equifax Canada, in a news release.
The company says Canadians' non-mortgage debt increased in 2023 by 4.1 per cent, mainly fuelled by a $15.9-billion increase in credit card debt.
According to the report, the total consumer debt in Canada is $2.45 trillion, up by 3.2 per cent from the previous year.
Despite still having the highest amount of average debt in the country at $24,356, the load for Albertans has dropped by almost 1.5 per cent.
The largest increase – four per cent - was recorded in Newfoundland, where the average debt load is $23,930.
The Edmonton Police Service says a person who was reported missing nearly six years ago may have been spotted in Edmonton this month, and now they’re looking for information to find him.
Two men and a youth are facing charges in connection with the killing of a man in the southeast Calgary community of Ogden last year.
Two suspects are at large after a stabbing Friday morning sent one man to hospital in Nanaimo, B.C.
A total of 218 charges were laid by police between March 13 and 18, including six criminal offences.
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St. Thomas police were on scene as part of an active fraud-related criminal investigation.
Ontario is moving to outlaw the resale of tickets for more than their original value, following through on legislation hat was promised after a string of in-demand events in Toronto saw ticket resale prices skyrocket out of reach for many.
The City of Montreal has announced a series of measures to address bad road conditions and “adopt a new approach to prevent future potholes.”
Environment Canada has issued a special weather statement for Ottawa, calling for snow to be “heavy at times.” Ottawa could see 5-10 cm of snow today.
Residents in the Fraser Valley of British Columbia are on high alert this morning as rising floodwaters threaten to force them from their homes while officials warn of landslides and power outages.
March 20th marks the first official day of spring, bringing more hours of daylight and warmer weather.
March 20th marks the first official day of spring, bringing more hours of daylight and warmer weather.
Ontario is moving to outlaw the resale of tickets for more than their original value, following through on legislation hat was promised after a string of in-demand events in Toronto saw ticket resale prices skyrocket out of reach for many.