The fuse has been lit on Canada’s debt bomb | Page 2 | General financial discussion | Discussion forum

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The fuse has been lit on Canada’s debt bomb
October 6, 2018
1:54 pm
Vatox
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Yes, the share of debt is skewed. Many have lowered debt loads yet the average still goes up. The lower income bracket for example is a ratio over 300%.

October 6, 2018
3:21 pm
Vatox
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October 7, 2018
11:35 am
Vatox
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October 7, 2018
1:10 pm
Vatox
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As Kidd mentioned, the ratio is averaged and we should look at individual DTI. To calculate your own DTI. You use monthly total debt payments and monthly income. 43% is the magic limit for getting an approved mortgage, but below 36% is best and the lower the better.

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