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Signs of Credit Markets Healing: NY Fed

Credit markets in the United States are healing "gradually," as more consumers seek loans and more banks are willing to lend, according to a survey released Monday by the New York Federal Reserve.

Consumer credit limits rose 1 percent in the first quarter, the first quarterly increase since the third quarter of 2008, according the New York Fed's "Quarterly Household Debt and Credit Report".

In the housing market, U.S. mortgage originations increased to $499 billion in the first quarter, the third consecutive quarterly increase.