Canada's number crunchers reported that Canadians owed almost $1.64 for every dollar of disposable income they earned in the third quarter.
Statistics Canada reported Monday that Canada's debt-to-income ratio ticked up to 163.7% in the third quarter, which ended in September-- up a full percentage point from the previous quarter's level.
The ratio ros -- StatsCan said --because Canadians' debt loads went up faster than their incomes. Household debt rose 1.4% in the quarter, while disposable income climbed 0.8%
All in all, Canadians owed $1.89 trillion at the end of the third quarter, up 1.4% from the previous quarter. Within that, consumer credit debt was $572.3 billion, while mortgage debt stood at $1,234 billion.
Related Stories
