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U.S. household debt rises to $12.25 trillion in Q1 -New York Fed
May 24, 2016 / 3:01 PM / a year ago

U.S. household debt rises to $12.25 trillion in Q1 -New York Fed

WASHINGTON, May 24 (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.

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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