Despite the growing income families, Canadians still have $ 1,77 for each earned $1, according to the latest figures from Statistics Canada. Canadians have a little less new debt relative to income in the last quarter, but total debt is still growing.
A rating of debt to income fell by about half a percentage point compared to the first quarter of 2019 – with 177,54% to 177,1%.
And it was the third consecutive quarter, when this rating falls a little faster than the debt.
Household income increased by 3.4% from the third quarter of 2018, while the debt of households in the credit market grew by 2.8%. But despite improvements in earnings, the total debt of Canadians is still growing.
With a seasonally adjusted total borrowing in the credit market increased to $23.5 billion from $18.9 billion in the previous quarter.
Debt credit market in the second quarter amounted to $2.25 trillion, including nearly $1.47 trillion mortgage debt and $ 782,9 billion consumer loan and nepomechie loans.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7128