Consumer
November 20, 2024
Mortgage Holders Have Moved Away From The Cliff Edge
Our analysis suggests that mortgage renewals are going to be less stressful for households than previously feared, with aggregate payments on Canadian mortgages poised to decline for balances outstanding as of mid-2024. The key factors behind this expected easing are lower interest rates and increased payments, which have helped to front-load the payment shock.
October 23, 2024
TD Credit and Debit Card Spend Report: Consumers Continue to Reduce Spending and Hunt for Bargains
The latest TD debit and credit card spending data shows little sign of strength, reinforcing a sluggish outlook for consumer spending. Aggregating the data to a quarterly average cuts through monthly volatility, reveals weak consumer spending in the third quarter. This supports our view that consumer activity remains in a lethargic state, likely resulting in sub-trend growth for personal consumption expenditures in Q3.
