Mortgage, debt loads inch higher

Statistics Canada says mortgage and consumer credit debt were both up at the end of the fourth quarter of 2013.

The agency says mortgage debt stood at just over $1.1 trillion, up 1.1 per cent over the previous quarter.

It says consumer credit debt reached $508 billion at quarter end, up 0.5 per cent over the third quarter.

Leverage, measured by household credit market debt to disposable income, edged down to 164 per cent from 164.2 per cent in the third quarter.

That means the average Canadian household owes $1.64 for every dollar they have to spend.

The household debt service ratio, defined as household mortgage and non-mortgage interest paid divided by disposable income, remained at a record low.

Owner's equity as a percentage of real estate was 69.5 per cent at the end of the quarter, marginally higher than the 69.4 per cent recorded at the end of the previous quarter.

Overall, Canadians net worth increased to an all time high of $7.7 trillion, led by a 5.9 per cent gain on the stock market.

Per capita, that works out to $217,000 per Canadian household.

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