Household borrowing
In March, the total credit liabilities of households increased $9.3 billion (+0.3%) to reach $2,945.1 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew by $6.5 billion (+0.3%). Household mortgage debt rose $6.3 billion (+0.3% on a monthly basis; +3.5% on an annualized basis) in March, a slowdown compared with February (+4.2% on an annualized basis).
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