Household Debt Rises Third Straight Quarter

Washington, DC, May 14, 2014 -- Americans increased their debt in the first quarter to a total of $11.65 trillion, according to the Federal Reserve Bank of New York.

It was the third consecutive quarterly increase.

Overall household debt rose by $129 billion from the previous quarter, largely due to a $116 billion jump in mortgage debt.

Total household debt is still 8.1% below the peak in the third quarter of 2008.