Household Debt Peaks

Ann-Marie Vazzano

America’s combined household debt grew to $12.73 trillion in the first quarter of this year, according to the Federal Reserve Bank of New York. This surpasses the previous high of $12.68 trillion in 2008. Mortgage and student loan balances were up, but credit card balances declined. However, more credit cards, car loans and student loans transitioned into delinquencies, according to the report. GP