The Commonwealth Bank of Australia’s (CBA) latest report into the Australian household sector when compared to other countries has found that Australia’s debt-to-service ratio currently sits at a record high.

The debt servicing ratios are based on the methodology derived from the Bank of International Settlements (BIS), which reflects the share of income used to service debt for households, non-financial corporations, and the total private non-financial sector.

According to CBA head of…