NEW YORK, NY – November 14, 2013 – (RealEstateRama) — In its latest Household Debt and Credit Report, the Federal Reserve Bank of New York announced that outstanding household debt increased $127 billion from the previous quarter, the largest increase since the first quarter of 2008. The increase was due to rises in mortgage balances ($56 billion), student loans ($33 billion), auto loans ($31 billion) and credit card debt ($4 billion). The Quarterly Report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data
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