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Statistics Canada reports that household debt relative to income decreased slightly in the second quarter as income growth surpassed debt growth. The debt-to-income ratio fell from 178.6% to 176.4%, meaning households had about $1.76 in debt for every dollar of disposable income. Additionally, the household debt service ratio declined to 14.52%. Borrowing slowed to $29.4 billion in the quarter, with mortgage borrowing dropping to its lowest level since early 2024 at $19.4 billion and non-mortgage borrowing slowing to $10 billion.
Written by the local model on 2026-09-15,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Statistics Canada reported that Canadian households' debt-to-income ratio decreased slightly in the second quarter as income growth outpaced debt accumulation. Household credit market debt relative to disposable income fell from 178.6% in the first quarter to 176.4%, meaning households now owe about $1.76 for every dollar of disposable income. The household debt service ratio, which measures obligated principal and interest payments on debt as a proportion of disposable income, also dropped from 14.68% to 14.52%. Seasonally adjusted household credit market borrowing slowed to $29.4 billion, down from $34.4 billion in the first quarter, with mortgage borrowing decreasing to $19.4 billion, its lowest rate since the start of 2024, and non-mortgage borrowing falling to $10 billion.
Written for “Household Debt Ratio Declines” on 2026-09-17,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
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No political leaning scored for article 10439 · logged 2026-09-15
Statistics Canada says the amount households owe relative to income edged lower in the second quarter as income gains outpaced the growth in debt.
asserted
gains → say → debt
The agency says household credit market debt as a proportion of household disposable income fell to 176.4 per cent on a seasonally adjusted basis, compared with 178.6 per cent in the first quarter.
asserted
debt → say → quarter
It says this means households held about $1.76 in credit market debt for every dollar of household disposable income.
asserted
households → say → income
The household debt service ratio – obligated principal and interest payments on credit market debt as a proportion of household disposable income – was 14.52 per cent, down from 14.68 per cent.
asserted
ratio → obligate → cent
The decline came as seasonally adjusted household credit market borrowing, which includes consumer credit as well as mortgage and non-mortgage loans, slowed to $29.4-billion for the quarter, compared with $34.4 billion in the first quarter of the year.
asserted
which → come → year
Mortgage borrowing dropped to $19.4-billion in the quarter, the slowest pace of borrowing since the first quarter of 2024, while non-mortgage borrowing, including consumer credit, slowed to $10.0-billion.
asserted
borrowing → drop → billion
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