Credit card debt more common than mortgage debt

Its latest research found that in the June quarter, 36.6 per cent of households had credit card debt, while 33.9 per cent had mortgage debt.

A research fellow at the Melbourne Institute, Edda Claus, says the result is a concern.

"I would think this is not a good thing because interest rates on credit cards would tend to be quite high," she said.

But Ms Claus says that in general, household finances are in better shape now than they were during the first three months of this year.

Almost 49 per cent of households are saving their income, compared to 46 per cent during the March quarter.