Canada's national net worth edged up to $6.9 trillion: StatsCan
Canadian dollars are pictured in Vancouver, B.C. Thursday, Sept. 22, 2011. THE CANADIAN PRESS/Jonathan Hayward
Published Friday, March 15, 2013 9:08AM EDT
Last Updated Friday, March 15, 2013 9:09AM EDT
OTTAWA -- Statistics Canada says national net worth increased to $6.9 trillion in the fourth quarter, up one per cent from the third quarter of 2012.
It says higher prices for many assets led the advance, while national saving accounted for 29 per cent of the increase in national net worth.
Household net worth rose 1.4 per cent in the fourth quarter, led by gains in the value of equity holdings and pension assets.
Household borrowing in consumer credit, loans and mortgages totalled $14.7 billion in the fourth quarter, led by $11 billion in mortgage borrowing.
By the end of the quarter, mortgage debt hit $1.1 trillion, consumer credit debt stood at $477 billion and the level of debt was up 5.5 per cent on an annual basis.
However, the report says leverage was largely unchanged in the quarter, with owner's equity as a percentage of real estate remaining just under 69 per cent and household credit market debt to disposable income sitting at almost 165 per cent.