Economy

Canadian Household Debt

Canadian households carry some of the highest debt loads in the developed world, with a debt-to-disposable income ratio that has grown significantly over the past two decades. Statistics Canada tracks household financial positions through the National Balance Sheet Accounts, covering mortgages, consumer credit, and net worth.

Mortgage debt represents the largest component — driven by Canada's housing boom in major urban centres. Rising interest rates since 2022 have put significant pressure on variable-rate mortgage holders. Explore trends in debt-to-income ratios, mortgage balances, and savings rates across the country.