As reported by the Federal Reserve, U.S. household net worth rose to $92.8 trillion during the fourth quarter of 2016. Rising values in the stock market and real estate contributed to the record net worth.
Compared to the previous period, household net worth rose $2 trillion, up from $90.7 trillion.
Meanwhile, household debt increased at an annual rate of 3.8 percent in the fourth quarter of 2016. Consumer credit grew 6.2 percent, while mortgage debt grew 3.1 percent at an annual rate.
With the U.S. economy adding 235,000 jobs in February, surpassing economists’ expectation, the central bank is widely expected to raise interest rates this month.