About Me

My photo
GTA, Ontario, Canada
A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Sunday, September 13, 2015

Canada second quarter household debt-to-income ratio rises to record

OTTAWA (Reuters) - Canada's household debt-to-income ratio rose to a record level in the second quarter as disposable income increased at a slower pace than household credit market debt, data from Statistics Canada showed on Friday.

The leverage ratio rose to 164.6 percent in the second quarter from 163.0 percent in the first quarter. The ratio is not seasonally adjusted.

The Bank of Canada watches the measure for signs consumers may be overextended after years of low interest rates have boosted consumer and housing market activity.

Two cuts by the central bank this year that have brought the benchmark rate down to 0.5 percent have raised concerns Canadians might be spurred to take on more debt than they can handle.

On a seasonally adjusted basis, households borrowed C$26.3 billion ($19.85 billion) in the second quarter, an increase of C$3.7 billion from the previous quarter. Mortgages accounted for the largest portion of that at C$17.7 billion.

The household debt service ratio, which is the measure of obligated payments of principal and interest as a proportion of disposable income, rose to 14.1 percent, above the historical average of 12.4 percent going back to 1990.

But the interest-only debt service ratio remained at historic lows at 6.3 percent.

MBN

We hope your finding our Blog enjoyable and informative to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to help you, family members or friends with all your real estate needs as referrals are always welcome!

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)