US Household Debt Falls to $18.8 Trillion in Second Quarter, New York Fed Says
Summary
- US household debt fell by $13 billion from the previous quarter to $18.8 trillion in the second quarter.
- Mortgage balances fell by $74 billion to $13.1 trillion, while credit-card debt rose by $21 billion and auto loans increased by $28 billion.
- Overall delinquency rates remained largely stable, though early-stage delinquencies for mortgages and auto loans edged higher.
Forecast Trend Report by Period
US household debt fell by $13 billion from the previous quarter to $18.8 trillion in the second quarter, according to the Federal Reserve Bank of New York, Walter Bloomberg reported on August 11.
Mortgage balances declined by $74 billion to $13.1 trillion, while credit-card debt increased by $21 billion and auto loans rose by $28 billion.
Overall delinquency rates remained largely stable, though early-stage delinquencies on mortgages and auto loans edged higher.
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