Decrease in Overall Debt Balance Continues Despite Rise in Non-Real Estate Debt

NEW YORK, NY – November 28, 2012 – (RealEstateRama) — In its latest Quarterly Report on Household Debt and Credit, the Federal Reserve Bank of New York announced that in the third quarter, non-real estate household debt jumped 2.3 percent to $2.7 trillion. The increase was due to a boost in student loans ($42 billion), auto loans ($18 billion) and credit card balances ($2 billion).