Canadians on average owe $1.71 for every dollar of disposable income they had over the summer.

(The Canadian Press/AP/ Elise Amendola)

Statistics Canada report households in the country owed over $2.1-trillion at the end of September.

Mortgages make up the biggest part of that debt.

Household’s often considered a key risk to the economy by the Bank of Canada and other experts.

At least one economist thinks we could see that debt rise further in the final three months of the year as Canadians rush to get into the housing market before mortgage rule changes take effect January 1, 2018.

But others feel the debt level could rise even more next year if interest rates go up.

The head of the Credit Counselling Society doesn’t want to sound like Scrooge, but Scott Hannah says many Canadians have a tendency to overspend during the holiday season.

”We are concerned that a growing number of Canadians will put themselves at risk and be unable to maintain their household expenses and reduct debt levels in the future.”