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Statistics Canada released its household debt data on Monday. The ratio of household credit-market debt to disposable income in Canada increased to 163.7% in the third quarter, up from 162.7% in the second quarter. This data means that average Canadian household has C$1.64 in debt for every Canadian dollar of disposable income.
Credit-market debt climbed 1.4% in the third quarter, while disposable income rose only 0.8%.
The interest-only debt service ratio to disposable income was at a record low 6.1%.
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