TORONTO - Canadian household debt reached a record high at the end of last year even as mortgage activity slowed, the Canada Mortgage and Housing Corp. said in a report out Wednesday. The debt to income ratio of Canadians hit a record high of 178.5 per cent in the fourth quarter last year as mortgage holders continued to take on non-mortgage debt. Debt levels rose as average balances for credit cards and lines of credit grew at a faster pace than in 2017, especially in Vancouver, Edmonton and Toronto, it said. Delinquency rates, however, remain low and stable, said CMHC senior market analyst Genevieve Lapointe in the report. The slower volume came as the market slowed and average prices fell on slightly higher interest rates, slower economic growth and stricter mortgage regulations.

Source: thestar May 22, 2019 14:52 UTC