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Canadian Household Debt-to-Income Ratio Hits Record High

BIZCATALYST 360°
BY BIZCATALYST 360°

The ratio of household debt to income in Canada hit a record high in the second quarter, although the pace of growth slowed from the same period in 2012, Statistics Canada said on Friday. The federal government and the Bank of Canada have expressed concern that Canadians are taking on too much debt – in particular cheap mortgages – at a time when interest rates are at near record lows. Officials fret that when rates go up eventually, some consumers could find themselves in trouble.

via Canadian household debt-to-income ratio hits record high – Money – MSN CA.

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