Showing 6 of 8 (8 Pages)
Household debt increased during the fourth quarter for the first time in nearly four years despite a continued drop in mortgage borrowing, according to the Federal Reserve.
Debt rose just 0.3% at a seasonally adjusted rate, but marked the first increase since the first quarter 2008. For all of 2011, household debt dropped 0.9%, well below yearly prerecession increases.
Consumer credit climbed 6.9%, the fifth straight quarter of growth, and ended 2011 up 3.5%.
© 1999 - 2013 REAL Trends Inc. All rights reserved