Key household debt ratio creeps higher in second quarter to 169.1 per cent
OTTAWA — The amount households owe, relative to their income, crept higher in the second quarter, even as mortgage borrowing continued to slow, Statistics Canada said.
The agency said Friday credit market debt as a proportion of household disposable income increased to 169.1 per cent as growth in debt outpaced income.
In other words, Canadians owed $1.69 in credit market debt for every dollar of household disposable income.
The ratio was up from 168.3 per cent in the first quarter, however it was down from 169.7 per cent in the second quarter last year.