Debt Nation: CBC News's look at the state of consumer debt in Canada

This week, the Bank of Canada raised its benchmark interest rate by a quarter point for the fifth time since last summer. It now sits at 1.75 per cent, the highest it's been since December 2008.

What that means for Canadians is thattheir debt is getting more expensive. CBCNews is following the impact that is having in an ongoing series called Debt Nation.

Catch up on the coverage here:

How much do we owe, and what are we doing about it?

Canadian families are feeling the pinch.

Average household debt per city*

A success story

Homeowners worried about paying down debt

Many Canadian homeownersare worried about rising interest rates and how theywill impact theirbudget, a newCBC survey finds.

Long-term loans: The fuelthat's powering car sales

Jacqueline Hansen took a look atthe impact of longer-term car loans.

Watch her story here:

The new norm of longer car loans

6 years ago

Duration 3:06

Canadians are buying more vehicles than ever. With most borrowing money in order to make this purchase, Jacqueline Hansen reports that longer and longer car loans are the new normal.

And Heather Hiscoxspoke to MohamedBouchamaof Car Help Canada who provided tips on how to buy a car and avoid the pitfalls of those sameloans.

Watch HeatherHiscox'sinterviewhere:

The perils of long-term car loans

6 years ago

Duration 6:46

Heather Hiscox speaks to Mohamed Bouchama of Car Help Canada who offers tips on how to avoid the pitfalls of long-term loans.

Economic cheer will be painful for some: Don Pittis

"Higher interest rates arealways difficult when people haven't seen them for a long time."

When does concern turn to crisis?

Experts have been telling Canadians for years that there's nowhere for interest rates to go but up and that they'd better be prepared.

Still, the rate hikes of the past year or so have caught some Canadians by surprise.Are they on the road to a crisis?

Watch Peter Armstrong's segment from The National:

How deep is the debt?

6 years ago

Duration 4:29

Peter Armstrong looks at what would move Canadians from debt concerns to debt crisis

As lending gets tighter, Canadians face threat of credit card trap: Don Pittis

Credit card debt can be seductive when times get tough, but it also has a knack for piling on problems.

An honest assessment

Your questions about rising interest rates

Personal finance expert Shannon Lee Simmonsanswered many of the most often asked questions people have about rising interest rates, such as:

• How does this affect my car loan?
• Should I lock into a fixed or variable rate mortgage?
• How can I save if don't make a lot of money?

Watch the FacebookLive withpersonal finance expert Shannon Lee Simmons:

Rising interest rates and your money | Q&A

6 years ago

Duration 40:01

From mortgages to car loans and credit card debt, here's how the Bank of Canada's rising interest rates could affect your monthly budget, according to financial planner Shannon Lee Simmons.

Canadians' indebtedness a concern amid rising interest rates

CBC's weekend business panel discusses the Bank of Canada's interest rate hike and what it means for Canadians' debt levels.

Watch the full biz panel discussion:

Canadians' indebtedness a concern amid rising interest rates | Debt Nation

6 years ago

Duration 18:56

Our weekend business panel discusses the Bank of Canada's interest rate hike and what it means for Canadians' debt levels.