Canadian household debt ratios hit a record high over the spring, according to new figures released Thursday by Statistics Canada. The ratio of household credit market debt to disposable income rose from 165.2 per cent in the first quarter of the year to 167.6 per cent in the second quarter. That means households held $1.68 in credit market debt for every dollar of disposable income, Statistics Canada said. BMO Capital Markets said the increase in the household debt ratio is consistent with the seasonal trend, as the second quarter is the strongest period for housing markets and mortgage debt growth. Meanwhile, total credit market debt climbed above $1.97 trillion at the end of the second quarter.

Source: CBC News September 15, 2016 15:33 UTC