Economics
Canada Household Debt Ratio Reaches Record in 3rd Quarter
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The ratio of Canadian household debt to disposable income rose to a record in the third quarter as consumers increased their mortgage borrowing.
Credit-market debt such as mortgages increased to 163.7 percent of disposable income, compared with a revised 163.1 percent in the prior three-month period, Statistics Canada said today in Ottawa. Mortgage borrowing climbed 1.8 percent to C$1.13 trillion ($1.06 trillion).