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Household Credit

About Household Credit Indicators

Changes in household credit reflect new credit extended to households. Two thirds of credit outstanding to households is for residential mortgages.

Overview of Total Household Credit

The table below provides an overview of changes in household credit over the past 12 months. The total dollar amount outstanding is noted, and broken down into components, as is the percentage distribution. The 12-month changes are given in dollar terms (again, broken down by component), and as a percentage of the total amount outstanding. Annualized 3-month and 1-month changes are also provided to give a sense of recent trends in household credit.

May 2018
C$ Billions Outstanding % Distribution 12-month  Dollar Change
(C$ Billion)
12-month % Change 3-month % Change (annualized) 1-month % Change (annualized)
Total household credit 1 2119 100 89.5 4.4 3.4 3.7
Consumer Credit 1 2 609 28.7 25.8 4.4 3.2 5.4
Chartered Banks 1 510 24.1 20.6 4.2 3.3 6.0
Non-Banks 3 85 4.0 4.3 5.4 4.0 5.3
Off-balance sheet Loans securitized by banks and non-banks 15 0.7 0.9 6.6 -4.8 -14.7
Residential Mortgage Credit 1 1510 71.3 63.7 4.4 3.5 3.0
Chartered Banks 1 1137 53.7 49.7 4.6 3.2 2.4
Non-Banks 4 297 14.0 12.2 4.3 4.4 5.0
Off-balance sheet Loans securitized by banks and non-banks:
NHA MBS program 63 3.0 2.5 4.2 9.1 21.7
Other securitization products 13 0.6 -0.7 -5.1 7.7 11.2

Notes:
Data on this table are not seasonally adjusted unless otherwise stated.
  1. Last two columns are seasonally adjusted.
  2. Consumer credit includes, amongst other things, credit card loans, personal lines of credit, auto loans, and other personal loans.
  3. Non-banks include trust and mortgage loan companies, credit unions and caisses populaires, life insurance, and non-depository credit intermediaries and other institutions (e.g., automobile leasing and sales financing companies.)
  4. Non-banks include trust and mortgage loan companies, credit unions and caisses populaires, life insurance companies, pension funds and non-depository credit intermediaries and other institutions (e.g., automobile leasing and sales financing companies). Non-bank residential and non-residential mortgage credit have been revised from 1969 to present as a result of revised pension fund data.

Total Household Credit

This graph shows changes in total household credit since 1990, both in annualized three-month percentage terms, and in year-over-year percentage terms.

Sources of Household Credit

This graph shows changes in the sources of household credit since 1990.

Household Credit Components : Consumer Credit

This graph shows changes in total consumer credit since 1990, both in annualized three-month percentage terms, and in year-over-year percentage terms.

Household Credit Components : Residential Mortgage Credit

This graph shows changes in total residential mortgage credit since 1990, both in annualized three-month percentage terms, and in year-over-year percentage terms.