Debt to Income Ratio Hits New High
Mortgage debt more than $1-trillion
We’ve never been here before. Stats Canada says our debt-to-disposable income ratio in the 4th quarter of last year was 165.4 per cent. That means, on average, that for every $1 of income we had, we owed a $1.65. The total included $573.6 million in consumer credit debt and $1.262 trillion in mortgage debt.
