Household borrowing
In June, the total credit liabilities of households rose 0.2% (+$7.4 billion) to reach $2,962.4 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew 0.2% (+$5.5 billion). Household mortgage debt increased 0.2% (+$5.0 billion), a deceleration compared with May (+0.3%). In June, the policy interest rate decreased 25 basis points to 4.75%, the first change since July 2023.
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