Canadian households are still into debt, just not if it’s for anything other than a house. Bank of Canada (BoC) data shows household debt reached a new high in September. While mortgage debt is accelerating, other forms of consumer credit are decelerating. The balance of household debt reached $2.24 trillion in September, up $82.0 billion from last year. Most of the household debt is tied to mortgages representing $1.60 trillion of the September balance, up $63.8 billion from last year.
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