No slowdown in household debt

While Canadians may be wary of the outlook for the economy, it’s done little to dampen their debt.

According to The Royal Bank of Canada, household debt grew in November by an annualized rate of 4.5 percent, marking a two-year high.

Residential mortgages accounted for the biggest slice of the growth, rising 5.2 percent, while other credit increased by 3 percent.