Money: Household debt grows faster than income - PressFrom - Canada
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MoneyHousehold debt grows faster than income

17:06  14 march  2019
17:06  14 march  2019 Source:   msn.com

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. . . . . South Korea’s household debt grew faster than disposable income in 2015, a government report showed Tuesday, amid concerns over record-high household debt . As of March this year, an average Korean household had 361 million won (3,000) in total assets, 66.5 million won in debt

South Korea’s household debt grew faster than disposable income in 2015, a government report showed Tuesday, amid concerns over record-high household debt . As of March this year, an average Korean household had 361 million won (3,000) in total assets, 66.5 million won in debt and

Household debt grows faster than income© Provided by thecanadianpress.com Statistics Canada's offices at Tunny's Pasture in Ottawa are shown on March 8, 2019.

OTTAWA - Statistics Canada says the amount Canadians owe relative to their income ticked higher in the fourth quarter of last year as the growth in debt slightly outpaced income growth.

The agency says that seasonally adjusted household credit market debt, as a proportion of disposable income, increased to 178.5 per cent in the fourth quarter. That compared with a revised reading of 178.3 per cent in the third quarter.

That means there was roughly $1.79 in credit market debt for every dollar of household disposable income.

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Household debt is defined as the combined debt of all people in a household . It includes consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many

The household debt service ratio, the total obligated payments of principal and interest on credit market debt as a proportion of household disposable income , increased to 14.9 per cent in the quarter compared with revised reading of 14.7 per cent in the third quarter.

Credit market debt, which includes consumer credit and mortgage and non-mortgage loans, totalled nearly $2.21 trillion in the fourth quarter.

Mortgage debt reached nearly $1.44 trillion, while consumer credit and non-mortgage loans combined to total $769.4 billion.

The household debt service ratio, the total obligated payments of principal and interest on credit market debt as a proportion of household disposable income, increased to 14.9 per cent in the quarter compared with revised reading of 14.7 per cent in the third quarter.

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