Latest News Stream - Debt Balance Total

Total household debt in the US increased by $197 billion from the prior quarter to a new record high of $18.59 trillion in Q3 2025. Mortgage balances grew by $137 billion to $13.07 trillion, and credit card balances rose by $24 billion to $1.23 trillion. Home equity line of credit (HELOC) balances rose by $11 billion to $422 billion. Student loan balances rose by $15 billion to $1.65 trillion. Auto loan balances held steady at $1.66 trillion. The pace of mortgage originations increased, with $512 billion newly originated in the third quarter. “Household debt balances are growing at a moderate pace, with delinquency rates stabilizing,” said Donghoon Lee, Economic Research Advisor at the New York Fed. “The relatively low mortgage delinquency rates reflect the housing market’s resilience, driven by ample home equity and tight underwriting standards.”

Total household debt in the US increased by $147 billion from the prior quarter to a record high of $17.94 billion in Q3 2024, data from the Federal Reserve of New York showed. Aggregate delinquency rates edged up from the previous quarter, with 3.5 percent of outstanding debt in some stage of delinquency. Mortgage balances rose by $75 billion from the previous quarter to reach $12.59 trillion at the end of September. While growth in income has outpaced debt, elevated balance levels continue to reveal stress for many households. Credit card balances increased by $24 billion to hit $1.17 trillion, and auto loan balances saw an $18 billion increase and stood at $1.64 trillion. HELOC balances increased by $7 billion to reach $387 billion, representing the tenth consecutive quarterly increase since Q1 2022.

Total consumer debt in the US surged by $184 billion, or 1.1%, from the prior quarter to a fresh high of $17.69 trillion in Q1 2024. Overall borrowing levels are $3.5 trillion above they were at the end of 2019. Mortgage balances shown on consumer credit reports increased by $190 billion during the first quarter of 2024 and stood at $12.44 trillion at the end of March. Credit card balances, which are now at $1.12 trillion outstanding, decreased by $14 billion during the first quarter but remain 13.1% above the level a year ago. Auto loan balances increased by $9 billion, continuing the upward trajectory that has been in place since 2020Q2, and now stand at $1.62 trillion. Other balances, which include retail cards and other consumer loans, decreased by $11 billion. Overall delinquency rates hit 3.2% during the first quarter of 2024, up from 3.1% in the last three months of 2023, but remained below the 4.7% seen at the end of 2019 before the Covid-19 pandemic.

Total consumer debt in the US surged by $212 billion, or 1.2%, from the prior quarter to a fresh high of $17.50 trillion in the fourth quarter of 2023. Mortgage balances increased by $112 billion and stood at $12.25 trillion at the end of December. Credit card balances, which are now at $1.13 trillion outstanding, increased by $50 billion (or 4.6%). Auto loan balances rose by $12 billion, continuing the upward trajectory that has been in place since 2020Q2, and now stand at $1.61 trillion. Other balances, which include retail cards and other consumer loans, grew by $25 billion. Student loan balances were effectively flat, with a $2 billion increase and stand at $1.6 trillion. In total, non-housing balances grew by $89 billion. Delinquency rates and the transition into troubled status were both higher, amid the rise in debt. About 3.1% of outstanding debt was in some stage of delinquency, up by 0.1 pp from the third quarter, but still 1.6 pp lower than the last quarter of 2019.

Total household debt in the US rose by 1.3% to $17.29 trillion in Q3 2023, a fresh record high. Mortgage balances increased to $12.14 trillion, credit card balances to $1.08 trillion, and student loan balances to $1.6 trillion. Auto loan balances increased to $1.6 trillion, continuing the upward trajectory seen since 2011. Other balances, which include retail credit cards and other consumer loans, were effectively flat at $0.53 trillion. Aggregate delinquency rates increased, with 3% of outstanding debt in some stage of delinquency. Delinquency transition rates increased for most debt types except student loans and home equity lines of credit. “Credit card balances experienced a large jump in the third quarter, consistent with strong consumer spending and real GDP growth”, said Donghoon Lee, Economic Research Advisor at the New York Fed.

Total consumer debt in the US rose by $16 billion, or 0.1%, from the previous quarter to a new record of $17.06 trillion in the second quarter of 2023. Credit card balances increased by $45 billion, or 4.6% to $1.03 trillion in Q2, reflecting robust consumer spending as well as higher prices due to inflation. Mortgage debt, which accounts for more than 70% of total debt and usually the primary contributor to household debt, remained relatively stable compared to the preceding quarter, standing at $12.01 trillion by the end of June. However, new mortgage originations, including refinancings, totaled $393 billion, an uptick from the 9-year low of $324 billion observed in the previous quarter. Student loan balances declined by $35 billion to $1.57 trillion in the second quarter, attributed to the timing of the academic year, as well as to some small forgiveness programs kicking in. Meanwhile, credit card delinquencies are at an 11-year high, as measured using a four-quarter average.

Total consumer debt in the US rose by $148 billion to a new record $17.04 trillion in the first quarter of 2023. Contrary to the usual pattern of balance decreases in the first quarters, credit card balances reached a record high of $986 billion, defying expectations. Mortgage debt, which accounts for more than 70% of total debt, increased by $121 billion to $12.04 pushed by higher mortgage rates. Still, new mortgage originations, including refinancings, totaled just $323.5 billion, the lowest level since the Q2 of 2014, and 62% below the same period a year ago. Student loan debt edged higher by $9 billion to $1.6 trillion and auto debt was up by 93 billion to $1.56 trillion. Also, total delinquency rates rose to 3%, the highest since Q3 of 2020. There has been an increase in the proportion of debt that has become delinquent, indicating a delay of at least 30 days in payment, across various loan categories such as credit cards and auto debt.

US household debt surged by $394 billion to a record $16.90 trillion in the fourth quarter of 2022, the sharpest increase in two decades, on the back of rising mortgage and credit card balances due to rising inflation and interest rates. Mortgage debt, which accounts for the bigger slice of total debt, increased by $254 billion to $11.92 trillion at the end of 2022, at a time when an aggressive tightening camping from the Federal Reserve pushed the average rate on a 30-year fixed mortgage briefly above 7%, a level not seen since 2001. Also, credit card balances increased by $61 billion, the most on record, while auto loan balances rose by $28 billion. Meanwhile, the overall percentage of borrowers in delinquency remained below pre-pandemic levels. Still, concerns grew among economists that younger borrowers could struggle once payments of student loans resume later this year.