03/15/2017 12:12 EDT

Canadians' Household Debt Hits Yet Another All-Time High

We have $1.67 in debt for every dollar of disposable income in this country.

OTTAWA — The amount Canadians owe compared with how much they earn has hit another record high.

Statistics Canada says the amount of household credit market debt crept to 167.3 per cent of adjusted household disposable income in the fourth quarter, up from 166.8 per cent in the third quarter.

That means there was $1.67 in credit market debt for every dollar of adjusted household disposable income.

Canadians' household debt hit yet another record high in the fourth quarter of 2016, Statistics Canada says. (Photo: getty Images)

The increase came as income rose by 1.1 per cent, while household credit market debt gained 1.2 per cent.

Total household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, totalled nearly $2.029 trillion in the final quarter of last year.

Mortgage debt accounted for 65.5 per cent of the total.

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Photo gallery Consumer Debt Per Person (2014) See Gallery