Household Debt-to-Income Ratio Down in Q2, Debt Service Ratio Up: Statistics Canada

Statistics Canada says the amount Canadians owe relative to their income ticked lower in the second quarter.
The agency says household credit market debt as a proportion of household disposable income fell to 175.5 percent on a seasonally adjusted basis in the second quarter, down from 176.7 percent in the first quarter.
In other words, there was $1.76 in credit market debt for every dollar of household disposable income in the second quarter.
However, the household debt service ratio, measured as total obligated payments of principal and interest on credit market debt as a proportion of household disposable income, increased to 14.97 percent on a seasonally adjusted basis at the end of the second quarter, up from 14.89 percent at the end of the first quarter.
The mortgage-only debt service ratio stood at a record high of 8.18 percent in the second quarter, up from 8.07 percent in the first quarter.
As of the second quarter, Statistics Canada says households had average debt, including mortgages, of $176,525.