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US consumer borrowing up to record $2.77T November on more car, school loans

Americans borrowed more to buy cars and attend school in November, gains that pushed consumer debt to an all-time high.

The Federal Reserve says consumers increased their borrowing by $16 billion in November compared with October. Total borrowing rose to a record $2.77 trillion.

Borrowing in the category that covers autos and student loans increased $15.2 billion. Credit card debt rose just $817 million.

Consumer spending rebounding in November, helped by lower gas prices and solid job growth that carried over into December. Employers added 155,000 jobs in December and 161,000 in November.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.95% dw 4.15%  
15 Y Fixed Graph 3.05% dw 3.11%  
30 Y Fixed Jumbo Graph 4.53% up 4.22%  
5/1 ARM Graph 3.71% up 3.19%  
5/1 Jumbo ARM Graph 3.38% up 3.19%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.31% up 4.30%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% dw 5.08%  
$50K Loan Graph 4.49% dw 4.50%  
$75K Loan Graph 4.51% dw 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.94% -- 2.94%  
36 M Used Graph 3.46% -- 3.46%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 3.04% -- 3.04%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.38% -- 0.38%  
1 yr Graph 0.71% -- 0.71%  
5 yr Graph 1.50% dw 1.52%  

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