Sentences with phrase «when household debt»

According to the Deputy Chief Economist of Bank of Montreal, Mr. Doug Porter, «The Bank of Canada will be raising rates before the economy reaches full potential, sometime in the first half of 2013 because it is clearly uncomfortable with the idea of keeping interest rates below inflation when household debt continues to grind higher.»

So just how are mortgage delinquency rates so incredibly low at a time when household debt levels relative to incomes have never been higher?

So just how are mortgage delinquency rates so incredibly low at a time when household debt levels relative to incomes have never been higher?

Not exact matches

And when households begin to worry about their financial security, they tend to reduce spending and focus on paying off debt.

When central bankers dropped interest rates during the financial crisis, finance ministers leaned too hard on household debt.

«When house prices declined, ushering in the global financial crisis, many households saw their wealth shrink relative to their debt,» its authors observed, «and with less income and more unemployment, found it harder to meet mortgage payments.»

If we came to learn that excessive household debt posed a bigger threat to economic growth than does a certain level of government debt, then policy makers would want to take that into account when setting interest rates.

But that pain today would arguably be less severe than if rates go up years from now, when households have piled on even more debt.

Somewhere in the neighborhood of half of American households are in over their heads when it comes to debt.

The central bank has concerns about the ability of households to keep paying down their high levels of debt when interest rates continue their rise, as is widely expected over the coming months.

And when you remove debt - free households from the equation — people with either no debt or no credit to speak of — the average debt load was more than double that, at $ 15,609.

It notes the need for fiscal consolidation but also the limitations faced by monetary policy in generating growth in demand when households already carry considerable debt.

When this happens and as debt levels rise relative to debt servicing capacity, at some point the major stakeholders — including businesses, creditors, household savers, workers and so on — became uncertain enough about how this gap will be allocated that they take steps to protect themselves from this uncertainty.

He turned to Tiff Macklem, the bank's senior deputy governor (who is, incidentally, getting more attention these days as a leading candidate to succeed Carney when he departs next June to take over the Bank of England) to flesh out the household debt picture with details.

While her departure removes another thorn from Najib's side, it comes at a time when the ringgit has lost 21 percent of its value against the dollar in the past twelve months and household debt is amongst the highest in the region.

«At a time when consumers are carrying record amounts of debt, the persistence of HELOC debt may add stress to the financial well - being of Canadian households.

In addition, it can encourage consumers to add to their debt load, which could put stress on Canadian households, at a time when they are carrying record amounts of debt.

The average Hawaiian household will get $ 14.21 ($ 6.9 million total) this year when interest on their debt is subtracted from interest earned on savings accounts.

And adding $ 800 or so to the average household credit card debt of $ 7087 is bound to put more pressure on you when it comes to repayments.

However, the crucial variable here is the debt - servicing ratio — it is this which determines whether a household can keep its property when there is an interruption to its cash flow, not the absolute level of debt (or the debt to income ratio).

The report said, on average, CAP clients» outstanding debt equates to 96 per cent of annual household income when they seek help.

In particular, a massive overhang of debt from a decade - long boom when economic growth was based on unsustainable household borrowing, unrealistic house prices, dangerously high banking leverage, and a failure of governments to put their public finances in order.

However, this particular point might not be valid when economic slowdown played a pivotal role in adding household debt.

If a protected life event happens to you (and you're a protected borrower or co-borrower on the loan), Debt Protection will cancel or reduce repayment of your loan debt — helping to lessen your worries, and your family's worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challengDebt Protection will cancel or reduce repayment of your loan debt — helping to lessen your worries, and your family's worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challengdebt — helping to lessen your worries, and your family's worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging.

I also wouldn't advocate moving to a larger, more expensive house so soon after retiring your household debt and when you still have a lot of RRSP contribution room available.

In a survey of credit card users by public policy organization Demos, households were 14 % more likely to have credit card debt when someone in the home had gone through a recent bout of unemployment.

This income discrepancy leads to economic vulnerability and financial insecurity for women, particularly when they are the head of the household and dealing with debt.

Signs of stress are already evident, especially when you look at household debt levels.

In 2015, household debt grew 15 % faster than income since 2003; however, the gap between debt and revenue has been decreasing since the 2009 peak when there was a difference of 49 %.

Lenders generally only approve loans when the mortgage payments for the purchase price of the property and all other debt payments when 36 percent or less of the household's income goes towards the total debt.

Much of the debate around Canada's buoyant housing market has centred on the growing amount of Canadian household debt, and questions about the ability of consumers to handle their overall debt burdens if and when interest rates rise from prolonged lows.

Poloz also notes that those Canadians with high - household debt have actually doubled since 2008, when the global economic crisis hit.

When Carney talks about household debt Elena Jara, director of education for Credit Canada Debt Solutions, says she gets a lot of calls or more people stopping by to ask questidebt Elena Jara, director of education for Credit Canada Debt Solutions, says she gets a lot of calls or more people stopping by to ask questiDebt Solutions, says she gets a lot of calls or more people stopping by to ask questions.

Making payments on this increasing amount of debt can force people to retire later than they'd like or borrow more after they stop working, when household income generally falls.

This can help a great deal in minimizing monthly debt obligations especially at a time when many are taking on other new debt such as a mortgage or rent, new auto loan payments, and / or other household expenses.

The lower rates came at a time when Ottawa is trying to warn consumers against taking on too much debt, worried that household debt levels across the country are rising too quickly.

The average American household has $ 5,700 in credit card debt, but when you exclude households that have no credit card debt, that number rises to over $ 16,000.

The Bank of Canada has concerns about the ability of households to keep paying down their high levels of debt when interest rates continue their...

Flaherty has warned consumers to avoid mortgages that could become unaffordable when borrowing costs rise, after Canadians took on record household debts relative to disposable -LSB-...]

While American households have succeeded at paying down some of their debt over the past three years, the median household's total savings have declined when adjusted for inflation.

«At a time when consumers are carrying record amounts of debt, the persistence of HELOC debt may add stress to the financial well - being of Canadian households.

When debt was too high for cash flows from average American households to afford residential housing, the prices of housing began to fall, and the foreclosure process began, as foreclosures happen once someone is inverted on their mortgage.

A common benchmark of financial distress is when households must devote more than 40 % of monthly income to repay debts (Bricker, et.

Mainly living off of one person's income when there are 2 incomes in a household is a great way to pay off debt faster.

High levels of household debt are a concern, that gets even worse when you realize how concentrated it is.

«Italian ministers estimate that the amount of food wasted throughout the country is costing Italian businesses and households more than 12 billion euros ($ 13.3 billion USD) a year, which equals about 1 percent of the country's gross domestic product — no small amount, when one considers that the country currently has a public debt of 135 percent.»

When the average cost of an adult funeral is over $ 7,000 and the average American household has credit card debt of $ 15,654 — purchasing life insurance becomes a no - brainer.

The average American household has $ 5,700 in credit card debt, but when you exclude households that have no credit card debt, that number rises to over $ 16,000.

When it comes to protecting your loved ones with life insurance, you need to consider your debts, household expenses, your children, future college expenses, etc..

B. Liquidating consumer or business debts, or to create a fund, enabling the surviving family members to do the same when the head of household dies.