Americans Increase Their Borrowing for 21st Straight Quarter

Americans have increased borrowing for the 21st consecutive quarter, with household debt reaching nearly $14 trillion. This rise is led by mortgages, with increases also seen in student, credit card, and auto loans. Despite concerns, indicators like falling bankruptcies and debt collections suggest consumer health is stable. However, rising delinquencies and higher interest rates present a mixed economic picture.

What is the total amount of household debt in the U.S. as of the third quarter?

• $12 trillion

• $14.5 trillion

• $13.95 trillion

• $15 trillion

Which type of debt led the increase in household borrowing?

• Auto loans

• Credit card debt

• Student loans

• Mortgages

What other types of debt saw an increase besides mortgages?

• Student loans, credit card debt, and auto loans

• Business loans

• Personal loans

• Medical debt

What trend was observed in bankruptcies and debt in collections?

• They increased significantly

• They remained stable

• They fell to a record low

• They fluctuated unpredictably

What is a concern despite the low interest rates?

• Decreasing home prices

• Falling stock market

• Rising delinquencies and higher interest rates on new debt

• Increasing unemployment