Household borrowing
Household sector borrowing is divided into financing in the form of non-mortgage loans, or funds principally for consumption, and mortgage loans, or debt acquired to finance the purchase of a property.
Households added $11.5 billion in mortgage debt during the month of October, representing a rise of 0.6% from the previous month. Non-mortgage debt remained nearly unchanged, edging up to reach $701.0 billion.
On a seasonally adjusted basis, household mortgage debt advanced $12.0 billion (+0.6%) to reach $1,918.3 billion in October.
Overall, the total credit liabilities of households increased by 0.4% from the previous month to reach $2,624.7 billion by Halloween. Real estate secured debt, composed of both mortgage debt and home equity lines of credit was up 0.6% (+$12.4 billion) to reach $2,090.5 billion.
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