WASHINGTON (Reuters) – The wealth of U.S. households rose to $ 96.2 trillion in the second quarter of this year as U.S. stock prices hit record highs and home values continued to climb, a report by the Federal Reserve showed on Thursday.
That compares to a slightly downwardly revised $ 94.5 trillion tally for household net worth in the previous quarter.
Household borrowing rose at a 3.7 percent annual rate in the April-June period, the report also showed, up from a 3.4 percent growth rate in the first quarter. Consumer credit increased 4.6 percent, down from 5.2 percent the previous quarter. Growth in mortgage debt slowed s…