Household borrowing
In July, the total credit liabilities of households rose 0.3% (+$8.3 billion) to reach $2,975.1 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew 0.3% (+$6.1 billion). Household mortgage debt increased 0.3% (+$5.8 billion), a slight acceleration compared with June (+0.2%). In July, the policy interest rate decreased 25 basis points to 4.50%, after an identical decrease in June.
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