Canadian’s Appetite for Debt Slowing Down

Analysis suggests Canadians becoming hesitant to take on debt

The latest report of non-mortgage debt in Canada by TransUnion credit shows average credit up 1.4% in th quarter to $25,960.

In the most recently reported data from Statistics Canada, households now carry about 153 per cent more in debt than their annual disposable income, with about 70 per cent of that being mortgage debt.

TransUnion also reports in the past year

– Auto loans up 9.7%

– credit card debt increase in 4th quarter down 1.5%

– Lines of credit up 1.1%

– delinquency levels remain low