US Household Debt Hits Another Record

2025-08-05 15:18 By Luisa Carvalho 1 min. read

Total household debt in the US increased by $185 billion from the prior quarter to a new record high of $18.39 trillion in Q2 2025.

“This quarter’s flow of household debt into serious delinquency was mixed across debt types, with credit card and auto loans holding steady, student loans continuing to rise, and mortgages edging up slightly,” said Joelle Scally, Economic Policy Advisor at the New York Fed.

“Despite the recent uptick in mortgage delinquency, overall mortgage performance remains strong by historical standards.” Mortgage balances grew by $131 billion and totaled $12.94 trillion.

Credit card balances rose by $27 billion from the prior quarter and stood at $1.21 trillion.

Auto loan balances also increased by $13 billion and totaled $1.66 trillion.

Student loan balances edged up by $7 billion and stood at $1.64 trillion, following the resumption of reporting of delinquent student loans.

Aggregate delinquency rates remained elevated at 4.4% of outstanding debt.



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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.”
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US Household Debt Hits Another Record
Total household debt in the US increased by $185 billion from the prior quarter to a new record high of $18.39 trillion in Q2 2025. “This quarter’s flow of household debt into serious delinquency was mixed across debt types, with credit card and auto loans holding steady, student loans continuing to rise, and mortgages edging up slightly,” said Joelle Scally, Economic Policy Advisor at the New York Fed. “Despite the recent uptick in mortgage delinquency, overall mortgage performance remains strong by historical standards.” Mortgage balances grew by $131 billion and totaled $12.94 trillion. Credit card balances rose by $27 billion from the prior quarter and stood at $1.21 trillion. Auto loan balances also increased by $13 billion and totaled $1.66 trillion. Student loan balances edged up by $7 billion and stood at $1.64 trillion, following the resumption of reporting of delinquent student loans. Aggregate delinquency rates remained elevated at 4.4% of outstanding debt.
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