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Canadians’ Debt Up 47.5% in 6 Years

Ottawa released its 2005 Survey of Financial Security on Thursday (better late then never!).  It had some interesting mortgage-related stats:

  • About 1/3 of Canadians have mortgages on their home.
  • The median mortgage (in 2005) was $90,000.  You can tell this is an old stat.  It's probably closer to $100,000 today due to Canada's hot housing market.
  • The average Canadian's debt is up a staggering 47.5% since 1999.  Mortgages make up 3/4's of this debt.