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U.S. household debt rises to $12.25 trillion in first quarter: New York Fed
May 24, 2016 / 3:06 PM / a year ago

U.S. household debt rises to $12.25 trillion in first quarter: New York Fed

WASHINGTON (Reuters) - Total U.S. household debt rose to $12.25 trillion in the first quarter of 2016, due largely to an increase in mortgages, according to a survey released on Tuesday by the Federal Reserve Bank of New York.

The corner stone of The New York Federal Reserve Bank is seen in New York's financial district March 25, 2015. REUTERS/Brendan McDermid

That was an increase of $136 billion from the fourth quarter of 2015 and $401 billion more than one year ago, the New York Fed said.

Mortgage balances also rose to $8.37 trillion, a $198 billion increase from a year ago, the survey showed.

Student loan debt stood at $1.26 trillion, up $72 billion from a year ago, while auto loan debt increased to $1.07 trillion, a rise of $103 billion over the same period.

Reporting by Lindsay Dunsmuir; Editing by Paul Simao

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