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- Household debt in Canada rises in the third quarter
Household debt in Canada rises in the third quarter
Statistics Canada released its household debt data on Monday. The ratio of household credit-market debt to disposable income in Canada increased to 163.7% in the third quarter, up from 162.7% in the second quarter. This data means that average Canadian household has C$1.64 in debt for every Canadian dollar of disposable income.
Credit-market debt climbed 1.4% in the third quarter, while disposable income rose only 0.8%.
The interest-only debt service ratio to disposable income was at a record low 6.1%.
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