Canadian home prices have risen significantly, but Canadians aren’t showing signs of financial distress when it comes to their mortgages.

Read: For many boomers, their wealth is in their home

The average mortgage balance in this year’s second quarter was $198,781, up 4.8% from that period last year, reports TransUnion Canada, a credit monitoring agency. But despite that increase, consumers have so far been able to manage their debt obligations, says TransUnion research director Matt Fabian.

In fact, delinquency rates for mortgages dropped by 0.6% in the second quarter, continuing a trend that began in the fourth quarter of 2016. And the delinquency rate for non-mortgage consumer debt dropped slightly, to 2.7%.

The increased mortgage balance has been driven by rising home prices, confirms the agency.

In Q1 of 2017, the average new mortgage balance was up 8% from the same time last year at $280,093, despite a 10% decline in new home loans.

Since Ontario introduced more than a dozen measures to improve home affordability, sales reported by the Toronto Real Estate Board showed big year-over-year declines in May, June and July.

Read: Will Canadian home sales keep slipping?

Given the size of the Toronto market, the slowdown has had an impact on Canadian averages for both sales and prices.

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