IN PHOTOS Northern lights dance across the night sky in southern Ont.
From London, to Mildmay, Collingwood and St. Thomas, here are some highlights of Friday night and Saturday morning's northern lights display.
Amid interest rate hikes and high inflation, more Canadians are turning to credit for relief, with consumer debt hitting a new record in the first quarter of 2023.
In a new report released Wednesday by TransUnion, the amount of outstanding debt that Canadians have amassed across all credit products has reached a new record of $2.32 trillion.
The number of Canadians with access to credit increased to 30.6 million, which is up 2.9 per cent from last year. Among existing credit debt, the volume of consumers adding additional credit products increased by 6.2 per cent. TransUnion says this is being driven by Gen Z consumers entering the credit market and new Canadians.
Higher credit balances drove minimum monthly payments higher and put pressure on consumers to use additional disposable income to cover payments in particular mortgages and lines of credit—which are vulnerable to interest rate changes.
The average line of credit monthly payment increased to $436, a 43 per cent increase year over year. While the average monthly mortgage payment rose to $2,032, a 15 per cent increase year over year.
The average payment for credit cards was 2.6 times over the minimum required. “This is a positive sign indicating healthy consumer behaviors towards their payment obligations,” said TransUnion’s press release.
The percentage of consumers past due on any account for 90 days or more, also referred to credit delinquency, increased by nine basis points to 1.57 per cent. The report notes that despite the increase, overall delinquency levels remain below pre-pandemic levels.
“As available disposable incomes become more stretched, we expect a segment of consumers will be more likely to miss payments, and as a result, that delinquency rates will rise,” said Matt Fabian, director of financial services research and consulting at TransUnion in Canada, in a press release Wednesday. “However, we expect any rise in delinquency rates to be moderate and in line with increased credit activity.”
TransUnions says it expects delinquency rates in Q1 of 2024 to be back to pre-pandemic levels at 2.19 per cent.
“Overall, the financial position of Canadian credit consumers improved coming out of the pandemic, bolstered by higher savings accumulated through the pandemic and supported by a strong labour market,” added Fabian.
From London, to Mildmay, Collingwood and St. Thomas, here are some highlights of Friday night and Saturday morning's northern lights display.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
The Netherlands' contestant in the Eurovision Song Contest was dramatically expelled from competition hours before Saturday's final of the pan-continental pop competition, which has been rattled by protests over the participation of Israel.
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
A man who was bitten by two sharks in the Bahamas said Thursday he's 'thankful that I'm here' while sharing his story of survival.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.