The total jumped by $351 billion in the third quarter, mostly due to mortgages and credit card usage, the regulator reports US household debt jumped during the third quarter at its fastest pace in 15 years due to increases in credit card usage and mortgage balances, a Federal Reserve report revealed this week. According to the Fed, total debt hit a record $16.5 trillion, up 2.2% from the previous quarter and 8.3% from a year ago. Households added $351 billion in debt for the July-to-September period, the regulator said. The increase follows a $310 billion leap in the second quarter and represents an annual rise of
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