Single-family homes are seen in this aerial photograph taken over San Diego, California, U.S., on Tuesday, Sept. 1, 2020. Photographer: Bloomberg Single-family homes are seen in this aerial photograph taken over San Diego, California, U.S., on Tuesday, Sept. 1, 2020. Photographer: Bloomberg

U.S. credit-card balances fell by the most on record last year even as households increased their total debt by taking on new mortgages, the Federal Reserve Bank of New York said.

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