Article content

Canada’s ratio of household debt to disposable income approached a record high between April and June, underscoring the central bank’s concern about imbalances in consumer finances.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Canadians' household debt burden creeps back to near record high as mortgages grow Back to video

With consumer debt levels expected to hit an all-time high this year, we could all use some debt fighting strategies.





[/np_storybar]

Credit-market debt such as mortgages rose to 163.6% of disposable income, from a revised 163.1% in the first quarter, Statistics Canada said Friday in Ottawa. The measure reached a record 164.1% in the third quarter of last year, and has averaged 119.7% since 1990.

Bank of Canada Governor Stephen Poloz last week said that “risks associated with household imbalances have not diminished” after saying in July that they were “evolving in a constructive way.” Poloz and Finance Minister Joe Oliver have focused their concern on a condominium boom in Toronto and Vancouver, along with rising home prices and higher consumer debt loads.