Americans borrowing grows highest in sex years. A new report publish by the Federal Reserve Bank of New York. Borrowing to buy homes, cars and pay for college, fueled a $241 billion increase in U.S. household debt over the past quarter. Total debt grew to $11.52 trillion.
Mortgage debt increased 3.9 percent or $152 billion, accounting for the biggest increase in total dollars. But student loan debt saw the biggest percentage increase of 11.5 percent or $53 billion.
It is the big challenge for U.S Because this problem create on U.S economy. Household debt has increased over its year-ago levels suggesting that after a long period of deleveraging, households are borrowing again," said Wilbert van der Klaauw. He is the senior vice president and economist at the New York Fed.
It is the big challenge for U.S Because this problem create on U.S economy. Household debt has increased over its year-ago levels suggesting that after a long period of deleveraging, households are borrowing again," said Wilbert van der Klaauw. He is the senior vice president and economist at the New York Fed.
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