Canadian Debt-To-Disposable Income Ratio Grew In The 2nd Quarter

OTTAWA — The amount Canadians owe compared with how much they earn hit a new record in the second quarter, driven in part by the country's hot housing markets.

TD Bank senior economist Leslie Preston said low interest rates have made borrowing more attractive, especially for homebuyers, and predicted the debt ratio could continue to trend a little higher in the next few quarters.

"We think there's still a fair bit of momentum in Toronto's housing market and Toronto is just such a huge share of Canada's overall housing market that we do think this ratio could tick up,'' she said Thursday.

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