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StatCan says debt-to-income ratio declined in Q2 as income growth outpaced debt
Household borrowing slowed to $29.4 billion as income gains outpaced debt growth, and the debt-service ratio eased to 14.52%, Statistics Canada said.
- Statistics Canada reported on Friday that the household debt-to-income ratio fell to 176.4 per cent in the second quarter, down from 178.6 per cent in the first quarter.
- Income gains across Canada outpaced the growth in debt, contributing to the overall decline in household debt relative to disposable income during the quarter.
- Seasonally adjusted household credit market borrowing slowed to $29.4 billion for the quarter, compared with $34.4 billion in the first quarter of the year.
- Mortgage borrowing dropped to $19.4 billion, the slowest pace since the first quarter of 2024, while non-mortgage borrowing slowed to $10.0 billion.
- Households across Canada held about $1.76 in credit market debt for every dollar of disposable income, illustrating the debt-to-income relationship underlying the quarterly decline.
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According to Statistics Canada, the level of household debt relative to income declined slightly in the second quarter, with the increase in income exceeding that of debt.
·Montreal, Canada
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The Toronto Star+11 Reposted by 11 other sources
StatCan says debt-to-income ratio declined in Q2 as income growth outpaced debt
OTTAWA - Statistics Canada says the amount households owe relative to income edged lower in the second quarter as income gains outpaced the growth in debt.
·Toronto, Canada
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Total News Sources16
Leaning Left8Leaning Right0Center7Last UpdatedBias Distribution53% Left
Bias Distribution
- 53% of the sources lean Left
53% Left
L 53%
C 47%
Factuality
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