00000nam 2200000zi 4500 9.902157 CaOODSP 20250218134809 m o d f cr cn||||||||| 210729t20212021oncd obs f000 0 eng d 9780660398624 CaOODSP eng rda CaOODSP n-cn--- CS11-621/115E-PDF Daoust, Michael, author. Trends in household non-mortgage loans : the evolution of Canadian household debt before and during COVID-19 / by Michael Daoust and Matthew Hoffarth. [Ottawa] : Statistics Canada = Statistique Canada, 2021. ©2021 1 online resource (24 pages) : graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier Analysis in brief, 1707-0503 ; 2021004 Issued also in French under title: Tendances relatives aux prêts non hypothécaires des ménages : l'évolution de la dette des ménages canadiens avant et pendant la COVID-19. Issued also in HTML format. "Release date: August 23, 2021." Includes bibliographical references (page 23). "During the pandemic, household non mortgage borrowing saw record declines, while household mortgage borrowing expanded to new highs. Due in large part to support measures from all levels of government, households saw their disposable incomes rise through the pandemic, as the cumulative effects of these support measures more than offset lost wages. As a result of increased disposable incomes and declining consumption, many households used the pandemic as an opportunity to pay down expensive debt, with the balances of unsecured lines of credit and credit cards being paid down in record amounts. Those who saw the greatest reduction in these outstanding balances were those with the lowest credit ratings, suggesting that those most vulnerable to financial hardships were able to use savings prudently during the pandemic. Despite an uptick in the economy as businesses reopened into the latter half of 2020, credit card debt continued to decline, while the total outstanding balance of non mortgage debt ended the year below its pre pandemic highs. With the economy looking to reopen fully, many Canadians will likely find themselves carrying lighter non-mortgage debt balances than they had going into the pandemic"--Conclusion, page 22. Loans, Personal Canada Statistics. Consumer credit Canada Statistics. COVID-19 Pandemic, 2020-2023 Economic aspects Canada Statistics. Statistics lcgft Statistics Canada, issuing body. Tendances relatives aux prêts non hypothécaires des ménages : (CaOODSP)9.902158 Analysis in brief (Statistics Canada) 1707-0503 ; 2021004. (CaOODSP)9.504715 PDF 753 KB https://publications.gc.ca/collections/collection_2021/statcan/11-621-m/11-621-m2021004-eng.pdf HTML N/A https://www150.statcan.gc.ca/n1/pub/11-621-m/11-621-m2021004-eng.htm 11-621-M