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Further Slowing In Mortgage Growth But Other Credit Lines Firming

CANADA DATA
  • Household credit liabilities increased another seasonally adjusted 0.3% M/M in January.
  • The 3-mth rate dipped a tenth to 3.9% annualized and the year-ago rate was unchanged at 3.4% Y/Y having plateaued at 3.3/3.4% since Aug’23.
  • Mortgage loans meanwhile increased 0.2% M/M, which saw the Y/Y rate dip two tenths to 3.4% Y/Y for its slowest pace since Apr’2001.
  • Non-mortgage loans are again an offsetting factor, rising a seasonally adjusted 0.5% M/M which saw the Y/Y rate rise four tenths to 3.4% Y/Y for its highest since Feb’23.
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  • Household credit liabilities increased another seasonally adjusted 0.3% M/M in January.
  • The 3-mth rate dipped a tenth to 3.9% annualized and the year-ago rate was unchanged at 3.4% Y/Y having plateaued at 3.3/3.4% since Aug’23.
  • Mortgage loans meanwhile increased 0.2% M/M, which saw the Y/Y rate dip two tenths to 3.4% Y/Y for its slowest pace since Apr’2001.
  • Non-mortgage loans are again an offsetting factor, rising a seasonally adjusted 0.5% M/M which saw the Y/Y rate rise four tenths to 3.4% Y/Y for its highest since Feb’23.