Despite continued warnings from the Bank of Canada, Canadians can't seem to resist the allure of low borrowing rates, racking up a 6 per cent increase in personal debt in the fourth quarter of 2012, compared to a year earlier.
Canadian debt loads grew at their fastest pace in two years during the summer, according to a report released Wednesday -- an alarming rate given that officials continue to warn consumers that household spending is out of control.
Canadian bank customers surveyed in an annual poll are less satisfied with their financial institutions than they were a year ago, at least partly due to the rising fees they're being charged.
Consumer debt growth was about 30 per cent lower in the second quarter than a year earlier -- the biggest slowdown since before the recession, according to a consumer credit study released Thursday.
