Canadians living in the country's two largest cities may find themselves more "vulnerable" to interest rate increases as personal debt levels in Toronto and Vancouver continue to hit record levels, warns a Canada Mortgage Housing Corporation report. The housing agency says the debt-to-income (DTI) ratio for those living in Vancouver climbed to 242 per cent in the second quarter ended June 30. CMHC said those with elevated debt levels could see their budgets stretched if interest rates continue to rise. It also noted that household debt levels vary widely, and have dropped in some of Canada's largest cities. The DTI ratio decreased in the Ottawa-Gatineau region, Halifax and Sherbrooke, Que.

Source: CBC News December 13, 2018 15:28 UTC