The amount owed by Canadians relative to their income has climbed to record levels in the second quarter.
Statistics Canada say the ratio of household credit market debt to disposable income climbed to 164.6 per cent from 163.0 per cent in the first quarter.
That means Canadians owed nearly $1.65 in credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, for every dollar of disposable income.
Overall, total household credit market debt amounted to 1.874-trillion dollars at the end of the second quarter.
That’s up 1.8 per cent from the previous quarter.
Household net worth also increased by 0.9 per cent in the second quarter, up to 243-thousand, 800 dollars per capita.