Getting your player ready...
WASHINGTON — Americans increased the amount of money they borrowed in November, mostly to buy cars and attend college. But the second straight month of gains barely raised consumer credit above its lowest point in four years.
Consumer debt rose $1.3 billion in November, the Federal Reserve said Friday. That follows a revised $7 billion increase in October.
The increase pushed overall borrowing to an annual rate of $2.4 trillion. That’s not much higher than the $2.39 trillion rate from September — the lowest point since January 2007.
