Canadian Consumer Debt Hits All-Time High of $2.7 Trillion

Canadian Consumer Debt Hits All-Time High of $2.7 Trillion

Canadian consumer debt rose to $2.68 trillion in the second quarter of 2026, marking a 4.18 percent increase compared to the same period the previous year, new data shows. Debt rose by 1.3 percent in this year’s second quarter to hit a record high, according to a consumer credit report by Equifax Inc. Consumer debt is money that Canadian households owe for items they purchase, and can include personal loans, credit card balances, and student loa…