Canadian household debt burden falls slightly, but still near record high. The Globe and Mail – Reuters. U.S. import prices post biggest fall in five months, boosting case for a rate cut. The Globe and Mail – Reuters. Magazines by The Globe and Mail. Business. Sports.
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CONCERNING: Canadian Household Debt Reaches Record High.. as the burden of paying off debt could reach dangerous levels.. Canada is at risk of a serious and long-lasting economic downturn in the near future. Spencer Fernando. Trending.
Canadians’ household debt burden creeps back to near record high as mortgages grow The rising ratio underscores concerns by the Bank of Canada and Ottawa about unhealthy imbalances in Canadians.
The total amount of credit market debt – which includes mortgages, non-mortgage loans and consumer credit – held by Canadian households hit a record high in the third quarter, climbing to 162.6 per cent of disposable income from a revised 161.5 per cent in the second quarter.
Yet the reminder about still too-high. debt rose at rates that were higher than the rate of earnings improvement and then, in the two years that followed the 2014 meltdown cash flow in the sector.
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Canada’s household debt burden hit another record highin the third quarter of 2015, as Canadians’ debts grew faster than their incomes. Statistics Canada reported that the ratio of household credit-market debt to disposable income rose to 163.7 per cent in the three months ended Sept. 30, up from 162.7 per cent in the second quarter.
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Canadian household debt burden falls slightly, but still near record high Housing starts drop 13 per cent in May Canadian unemployment hits record low as economy adds 27,700 jobs in May Subscriber.