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December 12, 2024CANADA NATIONAL BALANCE SHEET ACCOUNTS, Q3 2024 
In the third quarter of 2024, Canadian national wealth (the total value of non-financial assets) decreased 0.8% to $17,089.0 billion. This follows an increase of 1.3% in the second quarter. Residential real estate edged down marking the second consecutive decline. Financial assets increased as equity markets rebounded in the third quarter. Statistics Canada notes that wealth is not evenly distributed across households, with the gap between the wealthiest(top 20% of wealth distribution) and the least wealthy(bottom 40% of the wealth distribution) increasing to 64.9 percentatge points in the second quarter of 2024.
Total assets, including financial and non-financial assets rose by 2.5% to $67,240.6 billion at the end of Q3 2024, following 1.1% growth in Q2 2024.
Household sector
Household credit market debt as a proportion of household disposable income decreased to 173.1% in Q3 2024.
In Q3 2024, household debt payments decreased to 14.72% of disposable income. Mortgage interest payments were down 12 basis points to 5.48% of disposable income, while non-mortgage interest payments were down 13 basis points to 3.80% of disposable income. Principle payments contracted for non-mortgage loans as a share of disposable income, while remaining unchanged for mortgage loans.
Government sector
At the end of Q3 2024, federal government net debt (book value) decreased to 32.43% of GDP. Net debt of other levels of government increased to 15.44% of GDP.
Corporate sector
The credit market debt to equity ratio of non-financial private corporations rose to 59.15 cents of credit market debt for every dollar of equity in Q3 2024, up from 57.99 cents in the second quarter.
Source: Statistics Canada. Table 11-10-0065-01 Debt service indicators of households, national balance sheet accounts; Table 36-10-0580-01 National Balance Sheet Accounts (x 1,000,000); Table 38-10-0235-01 Financial indicators of households and non-profit institutions serving households, national balance sheet accounts; Table 38-10-0236-01 Financial indicators of corporate sector, national balance sheet accounts; Table 38-10-0237-01 Financial indicators of general government sector, national balance sheet accounts; Table 38-10-0238-01 Household sector credit market summary table, seasonally adjusted estimates