Household borrowing
In August, the total credit liabilities of households increased $7.9 billion (+0.3%) to reach $2,877.0 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew $7.1 billion (+0.3%). Household mortgage debt rose $7.9 billion (+0.4% on a monthly basis; +4.6% on an annualized basis), representing the third consecutive month of accelerated growth following two consecutive months where the pace of growth slowed
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