Household borrowing
In November, the total credit liabilities of households increased $7.4 billion (+0.3%) to reach $2,903.1 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew $5.5 billion (+0.2%). Household mortgage debt rose $5.4 billion (+0.3% on a monthly basis; +3.1% on an annualized basis) in November, a slight slowdown compared with October (+3.8% on an annualized basis).
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