New data from Statistics Canada showed the average Canadian owed $1.82 for every dollar of disposable income.
The national balance sheet and financial flow accounts released Monday, found the credit market debt to disposable income ratio climbed to 181.66 in the second quarter, which is up from 179.71 the previous quarter.‘TRIFECTA OF MARKET CHALLENGES’
This marked the largest decline on record as individuals faced a “trifecta of market challenges,” with weaker housing, equity and bond markets weighing on Canadians’ wallets.DEMAND FOR MORTGAGESCanadians added “a near record $56.3 billion of debt in the second quarter” and mortgages were the largest contributor, with demand of $48.7 billion.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pierre Poilievre chosen as new Conservative Party of Canada leader on 1st ballot – Terrace StandardPierre Poilievre chosen as new Conservative Party of Canada leader on 1st ballot
Read more »
CANADA: What Pierre Poilievre has to do next as new Tory leaderThe Conservative caucus is also expected to meet on Monday, where Poilievre and the MPs he leads will discuss priorities for the fall
Read more »
CANADA: What Pierre Poilievre has to do next as new Tory leaderThe Conservative caucus is also expected to meet on Monday, where Poilievre and the MPs he leads will discuss priorities for the fall
Read more »
Pierre Poilievre elected new leader of the Conservative Party of CanadaPoilievre swept the contest with 68.15 per cent of the vote. Former Quebec premier Jean Charest, who came in second, only got 16.07 per cent
Read more »
Pierre Poilievre elected new leader of the Conservative Party of CanadaPoilievre swept the contest with 68.15 per cent of the vote. Former Quebec premier Jean Charest, who came in second, only got 16.07 per cent
Read more »
UPEI associate professor named to Royal Society of Canada College of New Scholars | SaltWireCHARLOTTETOWN, P.E.I. — Xiuquan 'Xander' Wang, an associate professor at the UPEI School of Climate Change and Adaptation, has been named a member of the ...
Read more »