Growing Concern About Rising Interest Rates

Posted on Monday, April 16, 2018 23:49 PM

If rising interest rates are stressing you out, a new poll suggests you're not alone.

According to the quarterly MNP consumer debt index survey, 43 per cent of Canadians say they've felt the pinch of higher interest payments.

That's up five percentage points from three months ago.

Just over half of Canadians are concerned past and future hikes could impact their ability to repay their debts, and one-third believe this trend could push them towards bankruptcy.

The number of Canadians who report being within $200 of making ends meet has improved to 46 per cent, but 47 per cent say they expect to take on more debt over the next year just to cover basic living expenses.

Millennials aged 18 to 34 are the most likely to be concerned about rising interest rates.