Borrowing Increases – But Barely – for U.S. Households in Q2
The New York Fed revealed on Thursday that the amount of borrowing increased for households nationwide in the second quarter of 2015 – but just barely.
According to Bloomberg, “increases in auto loan debt and credit card balances offset a decline in mortgage debt to leave total borrowing of U.S. households roughly unchanged.”
The small increase – which measured in at 0.02 percent – works out to about an extra $2 billion worth of borrowing.