U.S. Household wealth in the third quarter rose to another record, driven by an increase in the stock market and rising property values, Federal Reserve figures in Washington showed on Thursday.
Highlights of the Household wealth report (third quarter)
The gain in the value of financial assets reflects a 4% increase in the last quarter in the Standard & Poor & # 39; s 500, which is hovering near a record this month. Households also benefited when housing prices rose 6.2 percent in September from the previous year, the most since mid-2014, based on data from S & P CoreLogic Case-Shiller 20 cities  The increase in net worth augurs well for the purchasing power of those Americans who own stocks and homes, which will help shore up household spending, most of the economy.
The report also showed that companies had a record high of $ 2.4 trillion in liquid assets, an increase from the $ 2.3 trillion in the previous quarter and that gives them the means to boost investment.
- Advanced mortgage loan at a rate of 2.7 percent; other forms of consumer credit, including car loans and student loans, rose at a rate of 4.9 percent
- . Total non-financial debt grew at an annual rate of 6.2 percent, the fastest since fourth quarter of 2015
- . Annualized 10.3 percent, the highest amount since the last three months of 2015
- State and local government debt fell at a rate of 0.1 percent, the third quarterly decline, while corporate debt increased at a rate of 5.4 percent. percent
– With assistance from Kristy Scheuble