'We have a responsibility:' Trudeau urges global leaders to support pact for future
Prime Minister Justin Trudeau is telling world leaders to either bury their heads in the sand or put differences aside for the sake of future generations.
Statistics Canada says the ratio of household debt to disposable income hit a record level in the fourth quarter as mortgage borrowing rose and disposable income fell.
The agency says on a seasonally adjusted basis that household credit market debt as a proportion of household disposable income rose to 186.2 per cent in the fourth quarter, compared with a revised reading of 180.4 per cent for the third quarter. The reading means there was $1.86 in credit market debt for every dollar of household disposable income.
Statistics Canada says the ratio stood at 181.1 per cent at the end of 2019 before the pandemic, while the previous record high was in the third quarter of 2018 at 184.7 per cent.
The increase in the fourth quarter came as household credit market debt rose 1.9 per cent and household disposable income fell 1.3 per cent.
On a seasonally adjusted basis, households added $50.0 billion of debt in the fourth quarter including $46.3 billion in mortgages and $3.7 billion in non-mortgage loans.
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, rose to 13.84 per cent in the fourth quarter of 2021 compared with 13.55 per cent in the third quarter.
With a growing number of Canadians struggling with debt, suggests how personal loans can be used for debt consolidation to lower their monthly payments.
This report by The Canadian Press was first published March 11, 2022.
Prime Minister Justin Trudeau is telling world leaders to either bury their heads in the sand or put differences aside for the sake of future generations.
An Edmonton man says he was in the wrong place at the wrong time when he was injured by members of the Edmonton Police Service last year.
The head of the Air Canada pilots union says she'll step down if members opt not to approve a tentative deal with the airline, raising the stakes as aviators mull whether to accept hefty salary gains or drive an even harder bargain.
Unifor says workers at General Motors' CAMI assembly plant and battery facility in southwestern Ontario have ratified a new collective agreement.
The brother of a 27-year-old man who was fatally shot in Scarborough over the weekend has been arrested and charged in connection with his death, say police.
Comedian John Mulaney and actor Olivia Munn now have a second child, a daughter named Mei June Mulaney.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
At least two students at Gettysburg College in Pennsylvania have been suspended from the swim team after a report that a racial slur was scratched onto a student's body, officials said.
Body mass index, a long-time tool used to measure a person's health, may soon be out the door as some health professionals push for a system they say is more accurate.
Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.
Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.
An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.
A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.
Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.
The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.
The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.
It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.