June 30, 2022

Statistics Canada says the quantity Canadians owe relative to their revenue pulled again within the first quarter from the file stage set within the fourth quarter of 2021 as incomes grew quicker than debt.

The company says, on a seasonally adjusted foundation, family credit score market debt as a proportion of family disposable revenue fell to 182.5 per cent in contrast with the file 185.0 per cent within the earlier quarter.

In different phrases, it says there was $1.83 in credit score market debt for each greenback of family disposable revenue within the first quarter.

The lower got here as family credit score market debt grew 2.0 per cent, however family disposable revenue gained 3.3 per cent.

Mortgage debt totalled practically $2 trillion, whereas non-mortgage loans stood at $706.2 billion.

The family debt service ratio, measured as whole obligated funds of principal and curiosity on credit score market debt as a proportion of family disposable revenue, was 13.48 per cent within the first quarter, down from 13.72 per cent within the fourth quarter of 2021.

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