OTTAWA – The ratio of household debt to disposable income hit a new record within the fourth quarter of this past year.
Statistics Canada says the ratio rose to 165.4 percent in the fourth quarter, up from 164.5 percent in the third quarter.
That means Canadian households on average held $1.65 in debt for each dollar of disposable income.
Related
- Canada’s jobless rate rises as economy loses 2,300 jobs
-
-
-
The increase came as disposable income increased 0.6 percent.
However, total household credit market debt, which includes credit and mortgage and non-mortgage loans, increased 1.2 percent to $1.923 trillion after last year.
The total included $573.6 million in consumer credit debt and $1.262 trillion in mortgage debt.
