Household borrowing
In July, the total credit liabilities of households increased $7.6 billion (+0.3%) to reach $2,869.5 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew $5.1 billion (+0.2%). Household mortgage debt rose $5.9 billion (+0.3% on a monthly basis; +3.4% on an annualized basis), representing the second consecutive month of accelerated growth following three consecutive months of slowdown.
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