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Phone: (604) 605-3335  Toll Free: (888) 850-6585

 

 

Boale, Wood and Company

Boale, Wood and Company

Licensed Insolvency Trustee

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Canadian Household Debt Hits Record

December 14, 2015 by admin

The latest figures from Statistics Canada show that leverage (measured by household credit market debt to disposable income) hit a record high of 163.7% in the 3rd quarter of 2015.

In other words, there was $1.64 in credit market debt for every dollar of disposable income. Disposable income increased at a slower pace (+0.8%) than household credit market debt (+1.4%).
Total household credit market debt (consumer credit, and mortgage and non-mortgage loans) reached $1,892 billion at the end of the third quarter, up 1.4% from the previous quarter. Consumer credit debt was $572.3 billion, while mortgage debt stood at $1,234 billion.
You can read the full report here.

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We have offices located in Vancouver and Surrey.  We also provide services to residents and businesses in the Yukon Territory.

 

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