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Canadians now owe $1.65 for every $1 they have as their disposable debt ratio hits new high

Total household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $1.923 trillion at the end of last year.

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 within the fourth quarter, up from 164.5 per cent in the third quarter.

That means Canadian households on average held $1.65 in debt for every dollar of disposable income.

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