Household borrowing
In January, the total credit liabilities of households grew by $8.8 billion (+0.3%) to reach $2,928.6 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, increased $6.2 billion (+0.3%). Household mortgage debt rose $5.4 billion (+0.2%), a deceleration in growth compared with December (+0.3%). Compared with January 2023, household mortgage debt increased 3.4% in January 2024, marking the slowest year-over-year increase since April 2001.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
Type
New Data
Off