The agency says the ratio of household credit market debt to disposable income rose to 173.9% on a seasonally adjusted basis, up from 173.5% in the fourth quarter of 2024.
In other words, Statistics Canada says there was $1.74 in credit market debt for every dollar of household disposable income in the first quarter.
The household debt service ratio — measured as total obligated payments of principal and interest on credit market debt as a proportion of household disposable income — held steady at 14.40% in the quarter.
The results came as the pace of household credit market borrowing slowed to a seasonally adjusted $34.5 billion in the first three months of the year, down from the $41.6 billion in the fourth quarter of 2024.
The total seasonally adjusted stock of household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, rose 1.1% to $3.07 trillion in the first quarter of 2025, with mortgages accounting for almost 75% of the total.
Household credit market debt (seasonally adjusted)
Household debt service ratio
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Last modified: June 13, 2025
