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“Total household debt increased by $82 billion (0.6%) to $13.29 trillion in the second quarter of 2018,” The Federal Reserve Bank of Ne York announced in its report titled ‘Quarterly Report on Household Debt and Credit.’

Key quotes

  • Overall household debt is now 19.2% above the post-financial-crisis trough reached during the second quarter of 2013.
  • Mortgage balances””the largest component of household debt””rose by $60 billion during the second quarter, to $9.00 trillion.
  • The number of credit inquiries within the past six months””an indicator of consumer credit demand””was roughly unchanged, and remains among the lowest levels seen in the history of the data.