From the LA Times:
American families reduced their debt load in the first three months of the year by 1%, bringing it down to pre-recession levels after an uptick in the last quarter of 2012, the Federal Reserve said Tuesday. Read more
Outstanding household debt, including mortgages, credit cards and auto and student loans, dropped to $11.23 trillion in the first quarter of the year.
That was down $110 billion from the final three months of 2012 and well below the peak of $12.68 trillion reached in the fall of 2008, the Fed said.
Housing was a big driver in the improved balance sheets of U.S. households.