Household borrowing
In October, the total credit liabilities of households increased $8.2 billion (+0.3%) to reach $2,896.4 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew $7.0 billion (+0.3%). Household mortgage debt rose $7.1 billion (+0.3% on a monthly basis; +4.0% on an annualized basis) in October, a small acceleration in growth compared with September (+3.5% on an annualized basis).
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