The Insolvency Squeeze: Canadian Households Drowning in Debt as Housing Costs Crush Finances

13,000 insolvencies filed in June 2026 — the highest level since the 2008/09 financial crisis, with an 11.5% jump year-over-year, signaling that the Canadian household is cracking under the weight of mortgage renewals and stubbornly high living costs.

Money Moves

• Insolvency filings surge — The Office of the Superintendent of Bankruptcies reported over 13,000 insolvency filings in June, up 11.5% from a year earlier, with the vast majority from consumer...