Sentences with phrase «of household debt as»

Not exact matches

Debt levels for the average Canadian household are moving down (perhaps we've been taking those warnings from the Bank of Canada to heart), and as a result there's been «modest» growth in consumer spending, said Ferley.

YELLOWKNIFE, Northwest Territories, May 1 (Reuters)- Bank of Canada Governor Stephen Poloz said on Tuesday there is good reason to believe the central bank can manage the risks of Canada's high household debt, even as he signaled that interest rate hikes will continue, increasing the cost of that debt.

TORONTO, May 1 - The Canadian dollar fell to a four - week low against its U.S. counterpart on Tuesday before paring its decline, as Bank of Canada Governor Stephen Poloz said the outlook for the domestic economy is good despite the overhang of high household debt.

YELLOWKNIFE, Northwest Territories, May 1 - Bank of Canada Governor Stephen Poloz said on Tuesday there is good reason to believe the central bank can manage the risks of Canada's high household debt, even as he signaled that interest rate hikes will continue, increasing the cost of that debt.

Here are three off the top of my head: Record levels of household debt threaten future spending, too many of our companies need a weaker currency to be competitive, and international energy companies are giving up on Canada as a place to invest.

YELLOWKNIFE, Northwest Territories, May 1 - Bank of Canada Governor Stephen Poloz said on Tuesday that the view of the Canadian economy is quite good despite record levels of household debt, and he was confident the central bank can manage the risk of that debt even as interest rates rise.

• Credit card delinquency rates remain low, at only 0.87 per cent of total outstanding balances as of April 2016, while credit card debt only makes up five per cent of total household debt in Canada.

As a licensed insolvency trustee firm, our practice is on the front lines of Canada's household debt binge and the bad personal finance habits that ensnare so many people.

Mortgages aren't the only debt Canadians are saddled with, however, and the rates on credit cards, car loans, and home equity lines of credit could tick up as well, further increasing a household's overall carrying costs.

Meanwhile, he is seriously worried about the side effects of low rates, repeatedly citing household debt as the biggest domestic risk to Canada.

Yet, as a country, we are probably more vulnerable than we were a decade ago because we failed to take seriously the most important lesson of the crisis: the dangers of housing mania and the perils of household debt.

U.S. consumers continued to pay down debt in the first quarter of 2013 as household wealth rose above its pre-recession peak.

«That should be viewed as a positive development by the (Bank of Canada), though progress on reducing the «key vulnerability» of elevated household debt will likely be very slow,» RBC economist Josh Nye wrote in a research note.

Despite the increase in debt, households continued to get richer in the third quarter as their net worth gained 2.2 per cent on the back of a strong stock market.

The central bank has concerns about the ability of households to keep paying down their high levels of debt when interest rates continue their rise, as is widely expected over the coming months.

For several years, policy - makers have been introducing new regulations, such as restrictions on mortgage credit, to curb the build - up of household debt.

RBC economist Laura Cooper said in a note to clients that the most likely scenario is that as housing moderates, the pace of household debt accumulation will also ease.

On the household - debt - to - disposable - income ratio, some experts see it as just one number out of many and insist that consideration must be given to the composition of the debt, such as how much of it is high risk.

They also fear that at such elevated levels, many Canadian households would be unable to withstand a financial shock such as a loss of income, or a sudden spike in interest rates that raised debt services charges.

Speaking in Montreal on Thursday, central bank governor Stephen Poloz called household debt a major risk to the Canadian economy, suggesting the fear of stoking more borrowing as one reason he has not been even more dovish on interest rate policy.

Poloz said there is good reason to believe the central bank can manage the risks of Canada's high household debt, even as he signaled that interest rate hikes will continue, increasing the cost of that debt.

Poloz's approach to now had been a series of gentle nudges; raising housing prices and record household debt as concerns, but at the same time accepting that buyers and their lenders likely knew what they were doing.

«That should be viewed as a positive development by the Bank of Canada, though progress on reducing the «key vulnerability» of elevated household debt will likely be very slow.»

[5] We used consumer - reported data from the Federal Reserve's Survey of Consumer Finances and revolving credit card balance data from Experian as of June 2017 to estimate revolving debt based on household income.

Meanwhile, the total household debt service ratio, measured as total obligated payments of principal and interest as a proportion of household disposable income for both mortgage and non-mortgage debt, remained flat at 13.8 per cent in the fourth quarter.

Statistics Canada said Thursday household credit market debt as a proportion of household disposable income was 170.4 per cent in the fourth quarter.

At that time, the main data sources on consumer debt consisted of loan - level data sets on specific categories of loans, such as mortgages, as well as aggregated data on household sector debt from the Board of Governors» Flow of Funds statistical release.

The bubbling interest comes as regulators grow increasingly worried about debt levels and the capacity of ordinary households to pay back big loans on expensive houses.

As a result, the household debt - to - income ratio has risen, although if account is taken of the increased balances held in offset accounts the rise is less pronounced (Graph 10).

Indeed, the strong growth of investor housing loans has driven the growth in household debt (as a share of disposable incomes) over recent years and contributed to a rise in both housing prices and dwelling construction.

However, in comparison to households that only hold owner - occupier debt, there is evidence that investors tend to accumulate higher savings in the form of other assets (such as paying ahead of schedule on a loan for their own home, as well as accumulating equities, bank accounts and other financial instruments).

In addition, broad measures of saving have remained positive, and household wealth — assets such as stocks and homes, less debt — is on the rise.

Yes, of course it can, if the household savings rate declines, but as China's economy slows and as concerns about debt rise, it seems to me a tad optimistic to assume that the household savings rate will decline sharply.

Updated as of January 2018, the most recent U.S. Student Loan debt statistics are outlined showing 44 million Americans now hold over $ 1.48 Trillion in Student Debt, the second largest source of household ddebt statistics are outlined showing 44 million Americans now hold over $ 1.48 Trillion in Student Debt, the second largest source of household dDebt, the second largest source of household debtdebt.

But closing down unnecessary capacity can pay for itself, even if unemployed workers are temporarily put on the government payroll (causing debt to rise, but usually by less than it had before), but only temporarily as Beijing takes other measures to boost household income through wealth transfers from the state and so to boost consumption, a form of demand which is likely to be more labor intensive than the demand created in the process of over-capacity.

As of June 2017, the average credit card debt for these households is $ 10,955.

Given the nation's debt load — as of February, households had a record $ 2.1 trillion of mortgage and non-mortgage debt — Poloz estimates the economy is 50 per cent more sensitive to rate hikes than in the past.

He turned to Tiff Macklem, the bank's senior deputy governor (who is, incidentally, getting more attention these days as a leading candidate to succeed Carney when he departs next June to take over the Bank of England) to flesh out the household debt picture with details.

This he presents unequivocally as good news, since it suggests an easing of high, mortgage - driven household debt levels that have been among Carney's more acute longstanding concerns about the Canadian economy.

And by that we mean bring an end to double - digit price gains, bring about a steep correction in house prices to levels the city's lowly middle - class incomes can afford, bring about an end to staggering household debt levels and ultimately, bring about the end of housing as the economy's engine of growth?

Unless China is able, very improbably as I have argued, to reform the financial sector deeply enough and quickly enough, the cost of a more competitive (i.e. more highly subsidized) export sector is ultimately a rise in the debt burden, unless of course Beijing is willing to tolerate higher unemployment or to implement greater wealth transfers from the state to the household sector.

Using the conventional total debt - to - income ratio, where debt is measured as a share of income, college - educated student debtors are by far the most indebted.2 The median college - educated student debtor has total debt equal to about two years» worth of household income (205 %).

By education and student debt status, the unweighted counts of young households are as follows:

Bill Robson, president of the C.D. Howe Institute, a public policy think - tank, said one of the greatest challenges for the middle class is saving more for retirement at the same time wages aren't growing nearly as fast and household debt piles up.

By 30 September 2012, Canadian household debt to personal disposable income reached a record 165 %, up from 137 % as of 30 June 2007, as debt grew faster than personal incomes.

Statistics Canada said household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.

According to ValuePenguin, * the average balance - carrying household had more than $ 16,000 in debt as of May 2016, with total outstanding consumer debt hitting $ 3.4 trillion, including $ 929 billion in revolving debt.

The ongoing accumulation of household debt has led to a further increase in the debt - servicing ratio; interest payments as a proportion of disposable income rose to 9.3 per cent in the September quarter (Graph 23), and are expected to rise further.

The recent rise in the debt - servicing ratio is largely a result of households increasing their debt levels, rather than an unexpected sharp rise in interest rates, as occurred in the late 1980s.

As Adair Turner shows in his new book, Between Debt and the Devil, private sector debt soared as a share of GDP in most advanced economies after the 1980s, fuelling unproductive, debt financed household consumption, housing bubbles and wasteful financial speculatioAs Adair Turner shows in his new book, Between Debt and the Devil, private sector debt soared as a share of GDP in most advanced economies after the 1980s, fuelling unproductive, debt financed household consumption, housing bubbles and wasteful financial speculatDebt and the Devil, private sector debt soared as a share of GDP in most advanced economies after the 1980s, fuelling unproductive, debt financed household consumption, housing bubbles and wasteful financial speculatdebt soared as a share of GDP in most advanced economies after the 1980s, fuelling unproductive, debt financed household consumption, housing bubbles and wasteful financial speculatioas a share of GDP in most advanced economies after the 1980s, fuelling unproductive, debt financed household consumption, housing bubbles and wasteful financial speculatdebt financed household consumption, housing bubbles and wasteful financial speculation.