Consumer finances cause concern

by |
The average Canadian household has increased its level of debt against disposable income. New data from Statistics Canada reveals that debt including mortgages has edged up from 163.1 per cent of disposable income in the first quarter of the year, to 163.6 per cent in Q2. The average since 1990 has been 119.7 per cent but was 164.1 per cent towards the end of last year. With central bank rates low, interest payments made up a smaller percentage of disposable income in Q2 than at the start of the year. Mortgage debt has risen by more than income; 1.4 per cent against 1 per cent; and is a major concern for the economy when interest rates eventually rise. The total Canadian mortgage debt is $1.17 trillion. Read the full story.
  • Deepak on 2014-09-15 9:31:23 AM

    This is what happens when cost of living keeps going up and salaries keep going down. Things will soon break. People have to live and get to work so it is not always easy to cut back in their expenses. Maybe companies should start paying better and stop looking for the cheapest person to do the job.

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions