Household Debt Falls for 1st Time Since 2014, But Mortgages Rise

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Household Debt Falls for 1st Time Since 2014, But Mortgages Rise

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Household Debt Falls for 1st Time Since 2014, But Mortgages Rise

Thursday, Aug 13 2020

Written by Chris Frankie

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While mortgage loans kept increasing in the second quarter, overall household debt dropped for the first time since 2014 amid the coronavirus pandemic. So reports Bloomberg.

According to the Federal Reserve Bank of New York, total debt was $14.27 trillion in the second three months of the year, compared with $14.3 trillion in the previous quarter.