September 20, 2018 / 4:05 PM / 3 months ago

U.S. household net worth almost $107 trillion in second-quarter 2018

WASHINGTON (Reuters) - U.S. households added nearly $2.2 trillion to their wealth from April to June this year, the Federal Reserve said on Thursday.

U.S. household wealth totaled $106.9 trillion in the second quarter, the report showed.

The figures reflect the strength of an economy in which the unemployment rate has fallen to 3.9 percent and U.S. stock prices have risen to record levels.

Household borrowing rose at a 2.9 percent annual rate in the April-June period, according to the Fed’s report, down from a revised 3.2 percent growth rate in the first quarter of the year.

The value of corporate equities held by households rose by $800 billion during the second quarter, while the value of real estate rose by $600 billion, the central bank said.

The Fed is expected to raise borrowing costs next Wednesday after its policy meeting to a target range of between 2 and 2.25 percent. It would be the third such quarter percentage point increase this year.

Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci

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