US household debt rises in the third quarter, boosted by mortgage borrowing and student loans

Total US household debt crept higher to $13.95 trillion in the third quarter, marking the 21st consecutive quarter of increased borrowing.
Increased mortgage borrowing was likely driven by homeowners "taking advantage of a low-interest rate environment," New York Fed research officer Donghoon Lee said in a statement.
Student loan debt jumped by $20 billion to $1.5 trillion in the third quarter. The Fed also released a study detailing student loan default rates in black-majority zip codes landing