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.