Canada Household Debt Ratio Rises to Record in 2nd Qtr
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The ratio of Canadian household debt to disposable income rose to a record in the second quarter on increased mortgage borrowing, even after policy makers took steps to slow the housing market.
Credit-market debt such as mortgages rose to 163.4 percent of disposable income, compared with a revised 162.1 percent in the prior three-month period, Statistics Canada said today in Ottawa. Mortgage borrowing rose 1.7 percent to C$1.11 trillion ($1.08 trillion).