The gap between income and household debt was slightly lower in the first quarter of this year. Statistics Canada says that the ratio reduced to 163.3 per cent, down just three-tenths of a percentage point. Canada’s household debt now sits at $1.841 trillion, mainly from mortgages. Net worth of Canadian households is up by 3.2 per cent.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: