OTTAWA \u2014 Statistics Canada says the amount Canadians owe relative to their income ticked higher in the second quarter as debt grew faster than income.<\/p>\n
The agency said the ratio of household credit market debt to disposable income rose to 174.9 per cent on a seasonally adjusted basis, up 1.1 per cent.<\/p>\n
In other words, Statistics Canada said there was $1.75 in credit market debt for every dollar of household disposable income in the second quarter.<\/p>\n
The household debt service ratio \u2014 measured as total obligated payments of principal and interest on credit market debt as a proportion of disposable income \u2014 ticked up to 14.41 per cent in the quarter, an increase from 14.37 per cent.<\/p>\n
The results came as the pace of household credit market borrowing slowed to a seasonally adjusted $31.6 billion in the quarter, down from $34.5 billion in the first quarter of 2025.<\/p>\n
The total seasonally adjusted stock of household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, rose one per cent to surpass $3.1 trillion in the second quarter, with mortgages accounting for almost 75 per cent of the total.<\/p>\n
The data comes as a separate report from Canada’s Parliamentary Budget Officer suggests some Canadian households are falling behind the top wealth earners in the country.<\/p>\n
The PBO report, released Thursday, examined 2023 data about wealth distribution in Canada.<\/p>\n
It showed that the top one per cent of economic families in Canada hold about 24 per cent of the country’s total net wealth, with at least $7.4 million in net wealth each.<\/p>\n
The top 10 per cent hold around 53 per cent of total net wealth and the top 20 per cent hold 69 per cent of total net wealth.<\/p>\n
Meanwhile, the middle 40 per cent own 27.6 per cent of net wealth and the bottom 40 per cent own around 3.3 per cent of net wealth.<\/p>\n
The report said there was a slight increase in wealth concentration from 2016 to 2019 but a reversal of this trend from 2019 to 2023.<\/p>\n
“Given the uncertainties in the data, the concentration of wealth among high-net-worth families in 2023 is considered to be either comparable to or marginally lower than in 2019,” it said.<\/p>\n
This report by The Canadian Press was first published Sept. 11, 2025.<\/p>\n
The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"OTTAWA \u2014 Statistics Canada says the amount Canadians owe relative to their income ticked higher in the second…\n","protected":false},"author":2,"featured_media":137913,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,74645,74646,12344,46,68408,50],"class_list":["post-137912","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-credit-market","tag-debt-service-ratio","tag-disposable-income","tag-economy","tag-seasonally-adjusted","tag-statistics-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/137912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=137912"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/137912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/137913"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=137912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=137912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=137912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}