Household borrowing
In June, the total credit liabilities of households increased $4.2 billion (+0.1%) to reach $2,860.3 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew $3.9 billion (+0.2%). Meanwhile, household mortgage debt increased $4.6 billion (+0.2%). Similarly, on an annualized basis, household mortgage debt rose 2.6% in June, an acceleration from the 1.9% growth rate recorded in May.
Non-mortgage loan debt edged down by $0.4 billion in June, representing a 0.6% decline on an annualized basis. On a monthly basis, credit card debt with chartered banks increased $0.5 billion (+0.6%), while outstanding balances on home equity lines of credit decreased $0.7 billion (-0.4%), and the remaining non-mortgage debt categories were down $0.3 billion (-0.1%).
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).