Household debt-to-disposable income ratio climbs higher
Statistics Canada says the amount Canadians owe compared with their disposable income climbed higher in the second quarter.
The agency says household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.
That means for every dollar of household disposable income there was $1.68 in credit market debt.
The increase came as household income increased 1.2 per cent while household credit market debt rose 1.9 per cent.
Total household credit market debt, which includes consumer credit, mortgage and non-mortgage loans, totalled nearly $2.08 trillion in the second quarter.
Mortgage debt increased 1.6 per cent to $1.36 trillion, while consumer credit grew 2.4 per cent to $609.6 billion.