The net worth of Canadian households increased by $461 billion (up 2.6%) to reach $18.4 trillion in the third quarter, marking the eighth consecutive quarterly increase, according to Statistics Canada.
This was also the largest increase since the first quarter of 2024, the national statistical agency reported.
Households’ financial assets jumped 4.8% ($532.4 billion) in the third quarter to $11.7 trillion, following a 2.3% rise in the second quarter as equity markets continued to rally.
The S&P/TSX Composite Index increased by the largest margin (11.8%) since the second quarter of 2020. Similarly, the S&P 500 Index grew 7.8% in the third quarter of 2025 and a depreciating Canadian dollar helped boost foreign-denominated assets.
Household liabilities, primarily mortgage and non-mortgage debt, partially offset those gains, increasing by $40.8 billion (1.3%) in the third quarter.
Overall, households’ net financial assets saw the largest increase on record, amounting to $491.6 billion.
On the flip side, the value of non-financial assets fell slightly (-0.3%), mainly from a $53.4-billion decline (-0.6%) in residential real estate.
Households’ net acquisitions of mutual fund shares rose to $39.3 billion, continuing the trend of higher purchases of mutual funds dating back to the third quarter of 2024. But currency and deposit accumulation slowed, increasing by $7.5 billion, the slowest build-up since the first quarter of 2021 ($5.5 billion), as interest rates eased.
The household debt service ratio dropped slightly to 14.64% in the third quarter. Declining mortgage interest payments (-0.9%) were more than offset by obligated principal payments (2.1%).