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Economic Viewpoint

Quebecers’ Rising Debt at the Beginning of the Pandemic Afected Some Borrowers More than Others

January 6, 2022
Hélène Bégin, Senior Economist, and Lorenzo Tessier-Moreau, Senior Economist

Although Quebecers’ financial situation has improved overall since the start of the pandemic, significant disparities have deepened when it comes to debt. Some categories of borrowers used more debt and now appear to be more vulnerable in terms of their ability to meet their financial obligations. In a context of rising interest rates and slowing residential real estate activity, it is important to develop a profile of the borrowers most at risk. An in depth analysis of debt according to various segments of the population helps shed some light in that respect.