(Bloomberg) — Americans increased their borrowing for the 22nd straight quarter as more households took out loans to buy homes or refinance existing mortgages, according to a report released today from the Federal Reserve Bank of New York.Total U.S. household debt rose by $601 billion in the fourth quarter, or 1.4%, surpassing $14 trillion for the first time, the New York Fed’s quarterly household credit and debt report showed. That’s $1.5 trillion above the previous peak in the third quarter of 2008. Overall household debt is now 26.8% above the second-quarter 2013 trough.Mortgage borrowing rose by $120 billion to $9.56 …read more
Source:: Yahoo Finance
