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14

Canada’s Gravity-Defying Household Debt Swells to C$2 Trillion

By Tony Seruga

Obligations keep climbing on low rates and a real estate boom
Statistics Canada reports on third-quarter national finances

Canadian household debt has cracked the two-trillion-dollar ceiling.

The appetite for bank borrowing remained unabated in the third quarter, setting fresh records for total credit and mortgage borrowing, Statistics Canada reported Wednesday. The widely-followed ratio of household debt to after-tax income rose to another record high of almost 167 percent…

Canada’s Gravity-Defying Household Debt Swells to C$2 Trillion

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