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14

Toronto, Vancouver Mortgages Keep Household Debt Near Record

By Tony Seruga

Share of mortgage to total debt reaches highest since 1997
Net worth as percentage of disposable income was record 824%

Canadian consumer leverage remained near a record in the first quarter as rising mortgage liabilities offset a gain in disposable income.

Credit-market debt including mortgages was 165.3 percent of after-tax income, slightly lower than the 165.4 percent reading in the fourth quarter, Statistics Canada said Tuesday in Ottawa. Persistent strength in the Toronto and Vancouver real estate markets is underpinning the debt buildup, according to Benjamin Reitzes at BMO Capital…

Toronto, Vancouver Mortgages Keep Household Debt Near Record

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