US household debt skyrockets Federal Reserve

The total jumped by $351 billion in the third quarter, mostly due to mortgages and credit card usage, the regulator reports

US household debt jumped during the third quarter at its fastest pace in 15 years due to increases in credit card usage and mortgage balances, a Federal Reserve report revealed this week.

According to the Fed, total debt hit a record $16.5 trillion, up 2.2% from the pr