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Canadian Households Gain $236B Despite Rising Debt Levels

3/14/2025

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Summary

Story summary

In Q4 2024, Canadian households' net worth increased by $236.3 billion (1.4%), totaling $17.5 trillion.
Household credit market debt exceeded $3 trillion, driven by rising borrowing amid lower interest rates.
The debt service ratio decreased to 14.35%, yet household indebtedness remains high at 172.8%.
Household savings rate fell to 6.1%, while mutual fund investments hit a record high.

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Story summary

In Q4 2024, Canadian households' net worth increased by $236.3 billion (1.4%), totaling $17.5 trillion.
Household credit market debt exceeded $3 trillion, driven by rising borrowing amid lower interest rates.
The debt service ratio decreased to 14.35%, yet household indebtedness remains high at 172.8%.
Household savings rate fell to 6.1%, while mutual fund investments hit a record high.