2024 Q1: Canadian household debt-to-income ratio decreased to 176.4%, driven by increased income and slower debt growth.
In Q1 2024, Canadian household debt relative to income decreased compared to Q4 2023, with the credit market debt as a proportion of household disposable income at 176.4%, down from 178.0%. The debt service ratio also fell slightly to 14.91%. The decline in debt-to-income ratio and debt service ratio can be attributed to a 1.9% increase in household disposable income, which outpaced the 1.4% increase in debt payments.
June 13, 2024
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