A sign outside a building at Statistics Canada in seen in Ottawa on Friday, March 12, 2021. THE CANADIAN PRESS/Justin Tang
The figure dipped to 178.7 per cent in the fourth quarter from 179.2 per cent in the third quarter, a change the agency attributed to disposable income outpacing growth in credit market debt because of relatively slow mortgage borrowing in the fourth quarter. "Household debt ratios improved in the fourth quarter as elevated rates kept a damper on demand for mortgage loans," she said in a note to investors.Before then, Kaushik expects elevated debt service ratios to continue to be a headwind for household spending and broader economic activity.
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