Fed Says Consumer Debt Rose 0.3% During Fourth Quarter
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Household debt in the U.S. climbed 0.3 percent in the fourth quarter as student and auto loans rose along with credit-card balances, according to a Federal Reserve Bank of New York survey.
Consumer indebtedness rose by $31 billion to $11.34 trillion, according to a quarterly report on household debt and credit released today by the Fed district bank. Mortgage balances were little changed at $8.03 trillion and home-equity lines of credit fell by 1.7 percent to $563 billion.