Since 2020, Canadian consumers have increased their non-mortgage consumer debt load. Over that same time, the average interest rate on non-mortgage consumer debt has increased by 300 basis points. The Bank of Canada's second rate cut in as many months should start to bring down interest rates on consumer debt.
CoStar Insight
Strapped Canadian Consumers Expected To See Some Relief From Rate Cuts
Consumer Spending Bump Likely To Be Modest Given High Debt Levels
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