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

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.

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, including consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $1.923 trillion at the end of this past year.

The total included $573.Six million in consumer credit debt and $1.262 trillion in mortgage debt.