Tuesday , 21 May 2024

Tag Archives: Canadian debt levels

Statistics Canada: Typical Borrower Owes $115,000+, Albertans $158,000+, Home "Owners" $161,000+

StatsCan released a major report Friday that outlines the overall debt situation of Canadians... It only measured what is owed by Canadians who carry any form of debt, not those that are debt free, and according to the report, the typical borrower owed an average of $114,400 as of 2009. That number, however,...is almost certainly higher today due to...[the fact that] low lending rates have been at 1% since early 2008...More worrisome could be that two-thirds of all Canadians who carry debt owe more than the average. Words: 585

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