RELATED:Debt for people 60+ has doubled in past decade
The findings of the CES survey are not surprising when you consider mortgage balances are the largest component of household debt, followed closely by auto loans and credit card debt.
RELATED:Consumer debt nearing dangerous levels
In the third quarter last year, total household debt in the United States rose by $63 billion to $12.35 trillion, a 0.5 percent increase over the previous quarter, according to the Federal Reserve Bank of New York.
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* Nearly half of Americans missed stock rally
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