U.S. Households’ Net Worth, Borrowing Up

U.S. households were a tad richer in the fourth quarter as a rebound in the stock market and continued home-price gains offset the sharpest rise in mortgage debt liabilities since 1987, the Federal Reserve said.

Net worth for households and nonprofit organizations totaled $39.1 trillion in the fourth quarter, up from $38.3 trillion in the third quarter, the Fed said. The 2.3% advance was the first rise in household wealth since the first quarter of 2002. Household borrowing rose 10.7%.