courtesy of The Bank Of Canada
 

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.

  March 2010
  C$ Billions Outstanding % Distribution 12-month  Dollar Change
(C$ Billion)
12-month % Change 3-month % Change (annualized) 1-month % Change (annualized)
Total household credit 1423 100 105.3 8.0 8.4 6.3
Consumer Credit (1) 452 31.8 37.7 9.1 7.9 4.0
Chartered Banks 342 24.0 42.7 14.3 11.3 2.9
Non-Banks* (2) 66 4.6 3.0 4.7 2.4 2.9
Loans securitized by banks and non-banks* 44 3.1 -8.0 -15.3 -14.1 -5.8
Residential Mortgage Credit 971 68.2 67.6 7.5 8.7 7.5
Chartered Banks* 473 33.2 38.0 8.7 6.2 1.8
Non-Banks* 192 13.5 7.3 3.9 1.8 1.1
Loans securitized by banks and non-banks:
NHA MBS program* 293 20.6 27.5 10.3 1.3 5.6
Other securitization products* 14 1.0 -5.1 -27.2 -25.7 -39.2

 

Notes:
Data on this table are seasonally adjusted unless otherwise stated.
* – Not seasonally adjusted except for the last two columns.
  1. Consumer credit includes, amongst other things, credit card loans, personal lines of credit, auto loans, and other personal loans.
  2. 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.)

 

Trends in Key Interest Rates

This table shows changes in key interest rates.

Selected Interest Rates
  Overnight rate Prime Rate Estimated variable mortgage rate Posted 5-year mortgage rate Three-month bankers’ acceptances Long-term corporate bond rate Weekly effective household interest rate (1) Weekly effective business interest rate (2)
July 31, 2007 4.50 6.25 5.35 7.24 4.75 5.42 6.40 6.12
October 18, 2007 4.50 6.25 5.65 7.43 4.85 5.41 6.56 6.11
December 06, 2007 4.25 6.00 5.40 7.37 4.70 5.36 6.51 5.99
January 24, 2008 4.00 5.75 5.25 7.39 4.06 5.30 6.35 5.80
April 24, 2008 3.00 4.75 4.15 6.99 3.23 5.32 5.48 5.20
July 17, 2008 3.00 4.75 4.20 7.09 3.29 5.48 5.40 5.35
October 23, 2008 2.25 4.00 5.00 7.20 2.68 5.99 5.93 5.82
December 11, 2008 1.50 3.50 4.50 6.73 1.77 6.04 5.47 5.75
January 22, 2009 1.00 3.00 3.80 5.90 1.06 5.90 4.93 5.28
March 5, 2009 0.50 2.50 3.30 5.74 0.69 5.86 4.51 4.97
April 23, 2009 0.25 2.25 3.00 5.25 0.46 5.32 4.12 4.20
June 8, 2009 0.25 2.25 2.85 5.52 0.43 4.83 4.12 3.81
July 23, 2009 0.25 2.25 2.65 5.85 0.44 4.54 4.26 3.50
September 14, 2009 0.25 2.25 2.45 5.50 0.43 4.08 4.13 3.32
October 22, 2009 0.25 2.25 2.25 5.80 0.43 4.06 4.00 3.30
December 10, 2009 0.25 2.25 2.15 5.49 0.44 3.89 3.86 3.27
January 21, 2010 0.25 2.25 2.05 5.47 0.44 3.72 3.83 3.21

 

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