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Household Credit Growth Holding Subdued Levels

CANADA DATA
  • Credit liabilities of households increased 0.35% M/M in February, marginally stronger than the prior six months averaging 0.31%.
  • The year-ago rate held at 3.4% Y/Y, one of its lowest in the past twenty five years, although the latest three months have accelerated to 4% annualized.
  • Within the details, mortgage loans increased 0.4% M/M (3.4% Y/Y, 3.6% 3-mth ar) whilst non-mortgage loans increased 0.3% M/M (3.5% Y/Y, 5.1% 3-mth ar).

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