Statistics Canada reports household debt-to-income ratio edges lower
Household debt has been identified as a key risk for the Canadian economy. (File Photo)
OTTAWA - The ratio of Canadian household debt relative to income edged down ever so slightly in the fourth quarter.
Statistics Canada says household credit market debt as a proportion of household disposable income was 170.4 per cent in the fourth quarter.
That compared with 170.5 per cent in the previous quarter.
In other words, there was $1.70 in credit market debt for every dollar of household disposable income.
Total household credit market debt, which includes consumer credit, mortgage and non-mortgage loans, amounted to $2.13 trillion.
Mortgage debt totalled $1.397 trillion, while consumer credit rose to $630.4 billion.