Credit agency Equifax says that Canadians are increasing their debt levels, fuelled by mortgages and personal loans.
Figures show that debt levels for the 2nd quarter of this year are up 7.2 per cent on a year before and up 1.8 per cent on the previous quarter.
While the levels of debt may be a concern; $20,759 on average without including home loans, the rate of delinquencies is now at the lowest level since before the financial crisis, so Canadians can largely afford the debt… for now.
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