U.S. household wealth hits record high in second quarter


The numbers: Total U.S. household net worth rose $5.5 trillion to a record $154.28 trillion in the second quarter, the Federal Reserve said Friday. This is the third straight quarterly increase.

Key details: The gain was boosted by a $2.6 trillion gain in stocks. The value of real estate holdings rose $2.5 trillion in the three months.

Household debt rose at a 2.7% annual rate in the second quarter. Mortgage debt grew at a 2.8% annual rate.

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Big picture: The health of the consumer has been a big factor in the surprising strength of the U.S. economy this year. Talk of a recession has vanished and the economy seems to be strengthening as the year progresses.

Market reaction: Stocks DJIA SPX were higher in Friday trading while the 10-year Treasury yield BX:TMUBMUSD10Y rose to 4.26%.

This article was originally published by Marketwatch.com. Read the original article here.

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