Household debt edges higher again

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The level of household debt in Canada rose to 163.3 per cent of disposable income in the fourth quarter of 2014. Statistics Canada’s figures mean the debt to income ratio hit new highs. However the picture is not as bleak as it sounds because although household income didn’t keep up with borrowing, assets increased in value. With yesterday’s Teranet-National Bank report showing some house prices starting to cool, analysts say that will help to reduce the overall burden of debt held by Canada’s households. 

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